The Senate approved the C?digo Monetario y Financiero with modifications. The bill has been under study in the Senate for four years, subject to discussions by interest groups and the ups and downs of politicians that control the Senate. Many of the reforms to the financial system that are part of the new code are already being enforced. The bill now passes to the Chamber of Deputies. The Code is expected to produce new conditions that would open the relatively protected Dominican financial market to international banks, that could result in merges of Dominican banks with international financial groups.
