Central Bank of the Dominican Republic expands ISO 22301:2019 business continuity certification to include its foreign exchange platform

The Central Bank of the Dominican Republic has received ISO 22301:2019 certification from the Spanish Association for Standardisation and Certification (AENOR), expanding the scope of its Business Continuity Management System to cover administration of the Foreign Exchange Platform alongside the previously certified Real-Time Gross Settlement (LBTR) system. The certification is positioned as supporting the permanent availability of services provided to participants in both infrastructures. The LBTR system is the central bank’s electronic platform for real-time, secure fund transfers and payments among financial intermediaries, securities intermediaries, the central securities depository, and public treasuries, and for settling transactions from retail payment systems and the BCRD Instant Payments service; it is also used to process transfers under the Central America and Dominican Republic Payment Interconnection System. The Foreign Exchange Platform supports execution of exchange rate policy and market operations by providing real-time market information and enabling authorised participants to conduct and report foreign currency transactions online, with the certification intended to help maintain operations during disruptive events; the assessment was coordinated by the bank’s Risk Management and Continuity Office and concluded with AENOR’s positive evaluation of both processes against applicable requirements.