SANTO DOMINGO. – Twelve years after the enactment of Law No. 189-11 for the Development of the Mortgage Market and Trusts, the country has made significant progress in terms of access to housing, road infrastructure, promotion of tourism and other investments that have been made possible by channeling resources through this financing method.
This was stated by the Association of Multiple Banks of the Dominican Republic (ABA), when announcing the details of the XXXII Latin American Trust Congress (COLAFI) that it will hold together with the Latin American Federation of Banks (FELABAN), from November 15 to 17, in Santo Domingo.
"The current scenario is conducive to evaluating the progress made since the introduction of the trust structure to the Dominican Republic and, based on that reality, visualizing the potential that this industry represents for national development," the ABA stated.
He noted that, likewise, authorities and experts from the trust industry at the national and regional levels will discuss regional trends in the sector, which concentrated US$262,735 million in trust assets in 10 Latin American countries, up to December 2021, according to an analysis by the Colombian Trust Association released at the last COLAFI event.
The ABA noted that, in the Dominican Republic, a total of 24 entities authorized to carry out trusts had been registered, and 1,258 trust contracts had been registered up to the month of May, according to statistics from the Superintendency of Banks.
COLAFI Agenda
In a press release, the Banking Association reported that the agenda of the XXXII Latin American Trust Congress (COLAFI) will take place at the Sheraton Hotel in Santo Domingo and will focus on cutting-edge topics.
The topics to be discussed include: the trust as a driver of sustainable tourism development, innovative strategies for resolving conflicts, collaboration between trustees and Fintech, and the role in public-private partnerships, the ABA detailed.
The banking association has made the website www.colafird.com available for people interested in learning more details or registering for the event.
