The Dominican Telecommunications Institute (Indotel) and the Association of Multiple Banks of the Dominican Republic (ABA) have unveiled a groundbreaking financial education initiative targeting Dominican expatriates in the United States. The campaign, set to commence on November 1, aims to educate individuals on the benefits of digital bank transfers as a more efficient, secure, and cost-effective method for sending remittances to their homeland. Training sessions will be conducted at Dominican consulates in major U.S. cities, including New York, New Jersey, Philadelphia, Boston, and Miami, to facilitate the adoption of digital financial tools. During the campaign’s launch at the Dominican House of Culture in New York, Indotel chairman Guido Gómez Mazara and ABA executive president Rosanna Ruiz highlighted the program’s dual objectives: advancing financial inclusion and reducing dependency on cash-based remittance systems. Gómez Mazara pointed out that while 80% of remittances originate from the U.S., a significant portion is still sent in cash. Despite 40% of senders possessing bank accounts, only 14% utilize digital transfer services. The initiative seeks to bridge this gap through collaborative public-private sector efforts, emphasizing security, efficiency, and traceability in remittance transactions.
Indotel and ABA launch financial education campaign for Dominican diaspora in the U.S.
