“We will be able to face the challenges this pandemic has brought us, as long as we maintain a transparent and fluid communication both at the supervisory level and with our regulated parties,” said the Superintendent of Banks of Panama, Amauri A. Castillo, when closing the Fifth Supervisory College of Lafise Group.
During his speech, the Panamanian banking regulator, who hosted this event as home supervisor, pointed out that the main objective of regulators is to safeguard depositors’ resources and, in addition, to contribute to the economic development of our countries by maintaining a robust, well-supervised financial system.
The college allowed supervisors to exchange information and learn more about this important regional financial conglomerate, under the scope of cooperation between regulators, with the purpose of preserving the stability and soundness of the financial systems of the region.
In this regard, the presentation given by Lafise Group’s technical team considered various topics, such as: corporate business strategies, consolidated financial information, Corporate Governance, bank customer service, and the prospective view of the lessons learned, among others.
“Consolidated, cross-border supervision does not replace or substitute for individual supervision, however, holding the college allows a broader, full view of Lafise Group’s performance and management,” the Panamanian banking regulator concluded.
For his part, Roberto Zamora Llanes, Chairman of Lafise Group Panama Inc., explained that “we, the regulated parties, and the regulators have learned in a different way to work together and we have seen how the deep problems of any paralyzed country can be solved and how the Supervisor-Supervisee relationship has been impressively good.”
The virtual meeting was conducted with the attendance of regulators from Nicaragua, Costa Rica, Honduras and the Dominican Republic, countries where Lafise Group has an operational presence, along with the Chairman, directors, and senior staff of the financial conglomerate.
