Central Bank of the Dominican Republic Central Bank of the Dominican Republic The Central Bank of the Dominican Republic (, BCRD) was established by the Monetary and Banking Law of 1947 as the central bank of the Dominican Republic, responsible for regulating the country's monetary and banking system.The Banks headquarter is in Santo Domingo and current governor is Héctor Valdez Albizu. Organic Law no. 6142 of December 29, 1962, authorized the central bank to promote and maintain favorable monetary, foreign exchange and credit conditions for the stability and development of the national economy. The central bank's functions include regulating market liquidity levels by: determining deposit reserve
Politics of the Dominican Republic Politics of the Dominican Republic The Dominican Republic is a representative democracy, where the President of the Dominican Republic functions as both the head of the government and head of the multi-party system. Executive power is exercised by the government. Legislative power is vested in the bicameral National Congress. The Judiciary is independent of the executive and the legislature. With the proclamation of the first constitution in the Dominican Republic on 6 November 1844 in the city of San Cristobal, the Dominican theory of sovereignty, 'independence politics', was formed. The Dominican Republic would remain for the most part republican and