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Deputies amend International Financial Zone Law

Santo Domingo.- The Chamber of Deputies on Tuesday passed the bill that amends International Financial Zone Law 480-08, which provides measures to avert the entry of illicit money into the facility that will operate in the resort town Juan Dolio, eastern San Pedro province.

Chamber Finance Commission chairman Marino Collante noted that the law passed in 2008 couldn’t be enacted because of several objected by the U.S. Drug Enforcement Administration (DEA) and other foreign agencies, prevented ISO certification.

“It’s a financial area, only financial institutions will be installed to work with dollars there, with financing, income collection, facilities of financial institutions, as if it were a financial free zone, but an international free zone where the banks here cannot enter,” Collante said.

Source: DT

Category: DR News |

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Last updated December 8, 2016 at 12:39 AM
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