After receiving an invitation from the Diplomatic and Consular Academy of the Ministry of Foreign Affairs of Panama, the Superintendent of Banks, Amauri A. Castillo, participated in a video conference with Panamanian Foreign Service representatives, where he shared relevant aspects of Panama’s International Banking Center (IBC).
During his speech, the Superintendent stressed that the conference is a valuable opportunity to share first-hand information about the banking center, so that the representatives of the Panamanian Foreign Service can become multiplying agents and disseminate, through their consular offices, the center’s advantages and attract investments and allies.
Superintendent Castillo remarked that the fundamentals of the International Banking Center have remained stable, with adequate solvency and liquidity levels, despite the pandemic and its economic impact. In addition, he referred to the importance of maintaining investment grade for Panama and the International Banking Center.
Likewise, for the purposes of promoting the Center, Mr. Castillo mentioned those projects of great relevance aimed at the transformation and modernization of our financial system. In addition, he stated that, in terms of the progress made by the banks of the market in terms of the environmental risks, more than half of the banks, to some extent, are already working on a socio-environmental management system using international standards.
The highest authority of the banking supervisor was accompanied by members of his work team, Mss. Yelena Soto, Licensing Manager; Delia Cuan, Financial Statistical Analysis Manager; and Ana Raquel Velasco, Director of Regulations, respectively, who addressed issues related to banking licenses and the application procedure, the summary of the financial condition of the International Banking Center, and the progress made in regards to the FATF action plan.
The virtual meeting is part of the conference series held by the Ministry of Foreign Affairs with the purpose of boosting the promotion of the country.
