The current law hasn’t kept pace with developments over the last decade in accounting and auditing activities.
The Superintendent of Banks in Panama, Alberto Diamond, an auditor by profession, suggested to take advantage of the current process to reform the financial system to modernize Law Act No. 57 of 1 September 1978, which regulates these careers", noted Edtih Castillo Duarte in an article in Prensa.com.
Source: Prensa.com
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August 2008
The new provisions of the Banking Law will become effective starting August 25, the Superintendency of Banks indicated.
The new provisions include increased regulations for banks with international licenses and the creation of the position of banking supervisor. Other changes are the streamlining and flexibilisation of forced bank liquidation processes and the institution of banking services mediation.
March 2010
The Banking Superintendence is preparing technical regulations for the credit card industry.
Issuing such regulation removes the necessity of a new law for the sector. This information was unofficially obtained by newspaper “El Nuevo Diario”.
“We understand that these regulations will come into effect soon, and include several topics proposed in the new law being discussed by the Production, Economics and Budget commission of the Legislative. These modifications aim for a more transparent relationship between issuers and card holders, by introducing contract revision and reducing interest rates”.
June 2011
Enrollment in IT courses at the Technological University of Panama has grown by 26%.
The increase in the number of students in choosing careers in one of the most dynamic sectors of the economy is one of the first results from the implementation the National ICT Strategy, launched in 2008.
September 2008
"The purpose of the law is to prevent abuses in the emission and administration of these types of financial products," said the FMLN lawmaker, Blanca Coto, who is on the Finance Commission.
Yesterday the Salvadoran Banking Association(Abansa) affirmed that the credit card market is properly regulated, in response to the initiative which has been unresolved by the Finance Commission since 2001.
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