Regulatory Alerts2022-09-16
Law No. 183-02 Approving the Monetary and Financial Law
The National Congress of the Dominican Republic enacted Law No. 183-02 to establish the regulatory and institutional framework for the country's monetary and financial system. The legislation grants functional, organizational, and budgetary autonomy to the Monetary Administration, comprising the Monetary Board, the Central Bank, and the Superintendence of Banks, to ensure price stability and financial system solvency. It defines strict authorization regimes for financial intermediation, outlines the legal status and responsibilities of regulatory personnel, and establishes the Monetary Board as the supreme authority for setting monetary policy and overseeing regulatory compliance.
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