Economist and former governor of the Central Bank of Chile, Roberto Zahler, is proposing some modifications to the laws governing monetary issues in the Dominican Republic. Specifically, he proposes changes to Law 183-02 that controls financial and monetary policies. He also proposed the adoption of standardized financial regulations by the Superintendent of Banks, and the application of reference interest rates for housing, all within a wide set of proposals that would make investment more attractive.
Zahler also proposed that mortgage paper be freed from the need to deposit reserve funds in the Central Bank, since this would permit, according to the Listin Diario, pension funds to invest in mortgage paper, something new in the Dominican financial scene. Zahler explained that mortgage paper needed to be handled in a special way, in order that in the case of one financial institution that purchased such paper being liquidated, the assets, liabilities and the stop on its credit pass on to another, more solvent institution, thus giving the paper even more guarantee for the consumer. The creation of the mortgage paper market could facilitate the construction of as many as 6000 new homes during the first year, and ten years down the line, as many as 80,000 new housing units would be created.