Panama: Cooperation Agreement between Caja de Ahorros and the Public Registry

Caja de Ahorros has signed a cooperation and training agreement with the Public Registry of Panama that seeks to bring about judicial, scientific and technical exchanges and support in areas of interest for both institutions.

Thursday, April 24, 2008

The agreement establishes that the Public Registry will have at its disposal accredited collaborators of the "Panamanian Family Banks", and access to a joint system through the WEB. It will allow the signees to consult information on official certifications related to registrations of companies, farms, boards of directors and legal representatives of companies and private foundations, powers of attorney, representative agents and goods registered in the name of companies and persons; as well as all of the information in their data base.
Each partner has promised to do the necessary personnel training.
The goal is to improve service to the clientele of the two institutions by speeding up procedures in judicial offices and minimizing the use of paper to expedite the process quickly and securely.

More on this topic

Alert Over Asobank in Panama

May 2017

The Superintendency of Banks has denounced the fact that the entity offering loans and other financial services, has no authorization to do so.

From a statement issued by the Superintendency of Banks in Panama:

The Superintendency of Banks considers it necessary to inform the public that an entity named "ASOBANK", which offers to grant loans through advertisements in newspapers and the website, is NOT an entity regulated or supervised by this Superintendency, since it does not have a License to operate a Banking Business in or from the Republic of Panama or to maintain a Representation Office in our country, in accordance with the Banking Law. Neither has it requested nor has it been given authorization by this Superintendency for the use of the word Bank or its derivatives, in any language.

Panama and the Inevitable Cost of Fiscal Transparency

May 2016

The pressure being put on Panama in the international context has finally forced it to make agreements to exchange tax information, with the most noteworthy being the agreement with Colombia because of the negative implications it has for the Panamanian banking sector. reports that "...According to the Superintendency of Banks of Panama, at the end of 2015, deposits in the international banking center of Panama from Colombia totaled $6.251 billion, with the South American country being the main center for funds originating from foreign sources. "

Canal Bank and Lafise After Banco Universal

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Following the suspension of operations in June, the Banco Universal de Panama entered into an organizational process that culminated with the sale of assets and liabilities of the company.

The invitation to participate in the expressions of interest was issued to all banking institutions with a general license in the Panamanian banking system. The finalists in this auction, as reported, are Canal Bank and Lafise.

Honduras: Forced Liquidation of Banco Continental

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It has been announced that deposits up to $9,200 (L200,000) per person will be returned, and then payments to employees, depositors and others, noting that "... there are sufficient resources to address them all."

The cause is the inclusion of the institution in the list of the U.S Office of Foreign Assets Control, and the freezing of its assets abroad.

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