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Dominican Republic: 53.69% of Dominicans don’t have a bank account

Santo Domingo.- Financial inclusion remains one of Dominican Republic’s daunting challenges: the Central Bank determined, with a survey, that more than half of the Dominican population remains outside the financial system.

According to the National Survey of Financial Inclusion, 53.69% of those consulted indicated that they did not have a bank account or credit with the financial system.

Meanwhile, the remaining 46.31% have, for the most part, a savings account and, to a lesser extent, loans with financial entities, as well as another banking instrument.

The Central Bank survey covered 3,744 homes nationwide. It was carried out in December 2019, so it does not yet include the effects caused by the COVID-19 crisis.

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