Financial Services
in Central America
Monday, April 2, 2012
The Superintendency of Banks in Panama is keeping a list containing names of companies that are not authorized to perform private banking or trust activities.
Current investigations into the company Pronto Cash has brought to the fore the risk of financial fraud by companies which are not controlled by the Superintendency of Banks.
Thursday, January 5, 2012
The companies Consorcio Aliado and Progreso have been awarded the tender to manage for 5 years investments for the Capital Savings and Pensions of Public Employees (SIACAP in Spanish).
The contract was disputed with the consortium Multibank / Multisecurities and HSBC.
Tuesday, December 20, 2011
The service sector closed 2011 with $397.3 million, 20% more than in 2010, according to the Guatemalan Association of Exporters.
The Contact Center industry accounted for 49% of the growth, equivalent to $194.4 million.
The Commission on Contact Centers & BPO’s at Agexport, has estimated growth for next year of nearly 20%.
"This sector has been one of the most dynamic in the service sector and its huge impact on mass employment generation makes up nearly 50% of the total export value. This confirms that promoting this industry gives a significant enhancement to the contribution given to Guatemalan people in terms of employment and boosts the economy", said the Chairman of the Commission on Contact Centers & BPO’s, Germain Lopez
Thursday, December 8, 2011
Economy and Development Report by CAF - Development Bank in Latin America -entitled Financial Services for development: promoting access in Latin America.
From the introduction of the first chapter of the report:
Wednesday, November 30, 2011
The loans are intended to support pension system and financial sector reform, and to help the country cope with natural disasters.
The Inter-American Development Bank (IDB) has approved three loans to Honduras for a total of $180 million to support reforms to the pension system and financial sector, and to help the country cope with natural disasters.
Wednesday, October 26, 2011
New technologies will be the basis for changes affecting users of financial services in the future.
Accessing your account from Facebook and financing being offered at the time you buy a product are some of the innovations that we could be seeing in the coming years in the banking industry.
Tuesday, October 25, 2011
The right financial conditions would allow the country to become the Singapore of Latin America.
Modern legislation, a tax system that benefits investors and use of the dollar as circulating currency are just some of the characteristics that Panama has and which could lay the groundwork for even greater market development, which would position the country as a "hub " for securities in Latin America.
Friday, October 14, 2011
In August national economic activity, as measured by the IMAE, showed the smallest monthly increase since May last year, barely increasing by 0.7% on an annualized basis.
According to analysis by Aldesa:
Between August 2010 and September of this year, activity advanced at a rate of 3.7% and the average variation was 3.7% lower for the tenth consecutive month. Both the manufacturing industry as well as agriculture had negative monthly variations, i.e. the value of their production was lower when compared with that recorded in July.
Wednesday, September 28, 2011
International creditors, headed by the BCIE, have frozen the funds earmarked for microfinance institutions in Nicaragua.
The frozen funds amount to about $30 million, representing 20% of the total portfolio balance of microfinancers belonging to the Nicaraguan Association of Microfinance Institutions, ASOMIF.
Wednesday, August 10, 2011
The administrators of the Panamanian airport terminal are working on a tender for provision of a foreign exchange service.
The international tender is expected to be made before the end of this year, said Juan Carlos Pino, manager of Tocumen S.A.
Friday, June 17, 2011
The partnership between the Executive Directorate of Revenue and the company Equifax, will mean that tax defaulters will be included in the credit bureau’s information.
This agreement will allow access by the financial system (private banks, finance companies, and cooperatives), to taxpayer’s debt information held with the Treasury.
Thursday, June 2, 2011
The center will provide financial services to the whole of Latin America, and will begin by hiring 100 people.
Company representatives have announced the selection of Costa Rica for the installation of its financial services center, where it will serve all countries in Latin America.
Thursday, May 26, 2011
Three companies have presented their complaints to the regulatory body regarding the tender for a consultancy to the National Authority of Public Services over the sale of shares.
On 6 April, the National Public Services Authority (ASEP) received eleven bids
Thursday, April 7, 2011
Panama's public services authority ASEP received 11 bids for advising in the sale of energy companies.
The contract comprises advising in the sale of the shares of energy distribution companies Metro-Oeste S.A., Elektra Noroeste S.A. and Chiriquí S.A.
Monday, January 24, 2011
The process seeks to find providers to assist in the sale of stock packages.
The tender is for purchase of services to advise the National Authority of Public Services in the process of selling the majority share packages of electricity distribution company Metro-Oeste SA, Empresa de Distribución Eléctrica Chiriquí and Elektra Noreste SA.
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