The National Securities Commission approved the company's request on 12 March with License Number 77-2010.
"Plus Capital Market Inc. is a Securities Broker dedicated to providing innovative services tailored to investors' requirements and needs with strict adherance to legal regulations and ethical standards," reports Pa-digital.com.
So far this year, Panama's Securities Commission (CNV) has authorized the operation of 6 brokerage houses from Venezuela.
Alejandro Abood, from the CNV, explained there are currently 12 operation requests being considered, 7 of them of Venezuelan origin.
"In 2009, the defining trend for Panama's economy is the massive influx of Venezuelan capital, and the securities market is profiting from this movement", reports Prensa.com. "There is an important migratory factor that cannot be ignored, argues Abood".
The increased demand for bank credit from consumers and businesses plus the financing needs of the government, is putting pressure on the capital market and interest rates.
The competition for liquidity can be seen in the activity of the National Stock Exchange, where the amounts being released on the exchange are increasing because of the concurrence of the state banks - Banco de Costa Rica, Nacional and Popular, and of private banks like Scotiabank, and by other entities such as Grupo Mutual y la Compañía de Fuerza y Luz.
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