Panama Strengthening Banking System
Panama´s former President Nicolas Ardito advocated Wednesday for a national banking system to be solid, stable and strong to permit development of the country and the rest of Latin America.

On assuming his position as a member of the Panamanian Bank Board of Directors, Ardito stated that the sectors law, signed 36 years ago, allowed consolidating the finances of Panama.

Panamanian Economy and Finances Minister Carlos Villarino, noting that the situation has changed since 1970, when there were few banks in the country, also highlighted the importance of this regulation.

Recently Panamanian Bank Superintendent Delia Cardenas said substantial progress has been made in consolidation to make this sector one of the most fundamental in the Panamanian economy.

 We are 36 banks with a general license, 31 with an international license, and two with branch offices, with over 45 billion dollars, she stated.