Authorization has been given for the investment of surpluses from the Private Contributions Regime to be invested in financial transactions under the supervision of the National Commission of Banks and Insurance.
The agency´s surpluses amount to around $250 million.
With steady growth and reaching up to $1 billion a year, this financing mechanism is controlled by 24 companies, mostly banks.
Every year, the activity records growth of between 10% and 20%. "Using a factoring contract, a trader or manufacturer can assign an invoice or other credit document to a factoring company in exchange for a full or partial financial advance" explains an article in Panamaamerica.com.pa.
The system will allow for the protection of financial assets from fraud, and will detect fraud instantly and prevent it from happening.
Nacion.com reports: "This is the Registry of Financial Assets (RAF, www.ifar.bz), which will allow users to register bank accounts, term deposit certificates and any other assets which can be subject to fraud.
Pentágono is the leading Factoring company in El Salvador, with 20 years of succesful background.
Eficient, fast, reliable and personalized service.
Operates in Costa Rica, El Salvador, Guatemala, Nicaragua and Panama
Phone: (503) 2264 3363
Represents the Company RTS INTERNATIONAL, Inc. of Kansas Cyty, TX, USA, for the territory of Guatemala and Central America. RTS finance exports through Factoring system.
Operates in Guatemala
Phone: (502) 2369 5408 - (502) 5709 2986