The economist, Andres Dauhajre, executive director of the Economy and Development Foundation praised the Monetary Board for authorizing development and mortgage banks to offer some financial services hitherto restricted to the commercial banks. The measure will enable the institutions, after being granted approval by the Central Bank, to provide savings and current accounts, credit cards, and conduct transactions involving foreign currencies. Authorization to offer these new facilities will be subject to their fulfilling the same conditions required of the commercial banks. Mr Dauhajre says that many of the institutions so categorized had been unable to sell these services because they were not affiliated to a strong financial group controlled by a commercial bank.