Between January and March 2012 599.000 credit cards were issued in Panama, an increase of 8.3% compared to the same period in 2011.
Data from the Panamanian Credit Association (APC in Spanish), also indicated that the balance on the total number active credit cards was $1.081 million, 11% more than on the same date in 2011 when it was $973 million.
In January 2012, there were 202,000 active mortgages, which is an increase of 4.2% compared to 2011.
Figures from the Panamanian Credit Association (CPA) show that in January 2012, there were 202,000 active mortgage loans, representing an increase of 4.2% compared to the figures for the same period in 2011.
With the implementation of the statute of limitations, more than 1.6 million records have already been wiped.
Two years ago the Panamanian Credit Association began implementing the statute of limitations, which applies when a consumer so requests, seven years after having made the last payment on any commitments they had.
The law, enacted in 2002, states that the requirement also applies to consumers who haven’t finished paying or have not made any payments and have waited seven years.
In the first half of the year, 4.458 new credit cards were issued, 6.969 less than the same period of 2008.
Total credit lines granted under this scheme summed $11.2 million, 52% less than in 2008, and 74% less than in 2007, according to data from the Panamanian Credit Association (ACP). Average credit for each new credit card was $2.520.
The “MSE Visibilization” program seeks to incorporate micro and small enterprises into the financial system.
The project, developed by the Panamanian Credit Association (APC), incorporates a database from the sector in order to carry out credit evaluation.
Johana Pérez, project coordinator for the MSE Bureau of the APC, said to Prensa.com that "up to now there have been meetings between entities, both state and private, to establish alliances that will strengthen the endeavors that are being carried out."
The Panamanian Credit Association will have the power to remove all credit references going back seven years or more.
The Martesfinanciero.com website indicated that "it applies to debts that have been cancelled or paid in full since 2002 and those that are active even if there has not been a payment for seven years or those that have never received payments and were opened seven years ago or more."
The project seeks to establish mechanisms to collect credit information and evaluations in order to facilitate access to financing for small and medium businesses.
The project, which will be development over 40 months, includes an investment of $1.7 million dollars, of which 69% will be provided by the IDB's Multilateral Investment Fund; the remaining 31% will be provided by the Panama Credit Association (APC).
I have six building lots in the Punta Leona Resort ready for construction. I am looking for a partner to provide financing and or construction. Wanted partner for financing and/ or construction in the...