Losses in Panama due to Madoff fraudPanamanian companies will lose more than $100 million due to the megafraud.Monday, January 5, 2009
The Procapital retirement fund, in addition to other institutions, will lose $23.5 million, according to the Banking Superintendence of Panama. Source: Diálogo Ciudadano.com ¿Busca soluciones de inteligencia comercial para su empresa?Increase in Investment in Voluntary Pensions in PanamaDecember 2013 Growth in personal income, attractive yields and greater awareness about saving are driving interest in investing for retirement. General Bank Completes Acquisition of Pension Funds´ administratorDecember 2013 Seguros Assa has sold the remaining 21% of shares held by the Profuturo Fund the largest banking institution in Panama. Panama: $288 million Available in Pension FundsJanuary 2013 Up to December 2012 pension management companies had a total amount of funds of $288 million, $59 million higher than the figure in 2011. Financial Transactions in Foreign CurrenciesAugust 2012 The government of Panama is investigating in conjunction with the banking sector and representatives of the European Union how to facilitate financial transactions with the Euro and other foreign currencies.
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