What you should know
New York Governor Kathy Hochul met with Dominican Republic President Luis Abinader on Sunday just before the Dominican National Day Parade to announce approval for the largest commercial bank in the Dominican Republic to open an office representative office in New York. The New York Department of Financial Services approved a license for Banco de Reservas de la República Dominicana, or Banreservas, to open a representative office in New York, its first office in the United States. Banreservas is the largest commercial bank in the Dominican Republic and offers a wide range of core banking services and financial products, including remittance services. The approval of this representative office, located in Upper Manhattan at 2420 Amsterdam Avenue, places Banreservas in the global financial epicenter and strengthens the deep economic ties between the state of New York and the Dominican Republic.
NEW YORK — New York Governor Kathy Hochul met with Dominican Republic President Luis Abinader on Sunday just before the Dominican National Day Parade to announce the approval of the Dominican Republic’s largest commercial bank The Dominican Republic will open a representative office in New York.
In addition, Hochul highlighted $1.5 million in state funding for the Institute of Dominican Studies at City College and signed new legislation that allows the Department of Motor Vehicles to enter into agreements with governments outside of the United States that allow people to exchange their driver’s licenses. drive.
“New York would not be New York without our Dominican community,” Governor Hochul said. “Today and every day, I am very grateful to the Dominican community for their work to make New York State a better place and I will continue to work to ensure that New York remains a great place for Dominican-Americans to call home.” .
To strengthen the link between the Dominican Republic and New York, the Department of Financial Services approved a license for the Reserve Bank of the Dominican Republic, or Banreservas, to open a representative office in New York, its first office in the United States. Banreservas is the largest commercial bank in the Dominican Republic and offers a wide range of core banking services and financial products, including remittance services. The office will serve as a hub to build community and business connections between the Dominican Republic and New York City.
Banreservas joins more than 120 foreign and wholesale banking institutions with assets of more than $2.7 trillion that have been licensed by the department. The approval of this representative office, located in Upper Manhattan at 2420 Amsterdam Avenue, places Banreservas in the global financial epicenter and strengthens the deep economic ties between the state of New York and the Dominican Republic.
“Since I joined the Department of Financial Services, we have worked hard to strengthen New York’s position as the financial capital of the world by developing long-standing partnerships with global regulators and attracting more businesses to the state. I am proud to welcome Banreservas, the largest bank in the Dominican Republic, to New York by approving its first office in the United States,” said New York State Department of Financial Services Superintendent Adrienne A Harris.
For its part, the City College Dominican Studies Institute (CUNY DSI) is the first university research institute in the country dedicated to the study of people of Dominican descent in the United States and other parts of the world. This year, Governor Hochul announced that CUNY DSI will receive $1.5 million to support ongoing operations and initiatives to preserve the culture and history of Dominican New Yorkers.
“The Dominican community has been a great partner in growing New York’s social, economic and cultural landscape. Congratulations to Governor Hochul for providing opportunities for this great association to continue to grow by investing in the Institute of Dominican Studies at City College; approve the opening of a Banreservas office in New York; and a new law to make it easier to exchange a valid driver’s license for a New York State license. These actions will continue to strengthen economic and cultural ties between New York and the Dominican Republic,” said New York State Secretary of State Robert J. Rodríguez.
2023-08-14 14:15:42
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