NewsWhore
10-20-2010, 04:10 PM
The Banking Association of the Dominican Republic (ABA) is in favor of the legislation that is intended to spur development of the mortgage market. The bill seeks to assign 20% of the money in the Pension Funds to the construction of low-cost housing developments. In the meantime, the president of the ABA, Jose Manuel Lopez Valdez, stressed that the project came about after two years of work done by various committees, and he said that the banks considered the new legislation to be a positive step.
According to El Nuevo Diario, there has never been any legislation of this type. BHD president Luis Molina Achecar said that many sectors were represented in the development of the legislation and he cited the Central Bank, the nation's Savings and Loan Associations, the Pension Superintendent, and others.
More... (http://www.dr1.com/index.html#9)
According to El Nuevo Diario, there has never been any legislation of this type. BHD president Luis Molina Achecar said that many sectors were represented in the development of the legislation and he cited the Central Bank, the nation's Savings and Loan Associations, the Pension Superintendent, and others.
More... (http://www.dr1.com/index.html#9)