With steady progress toward strengthening Panama’s financial system, the Financial Coordination Council (CCF) successfully held its third Ordinary Meeting of the year at the facilities of the Superintendency of Banks of Panama (SBP).
The session was opened by the Superintendent of Banks and Chairman of the CCF, Milton Ayón Wong, who welcomed the Council members and reaffirmed the institutional commitment to comprehensive, coordinated, and resilient financial supervision. The Superintendent also welcomed guest Ivette Aguilar, General Secretary representing the Ministry of Economy and Finance.
During the meeting, participants addressed strategic issues that underscore the CCF’s role as a coordinating body among the different regulatory and supervisory authorities of the national financial system.
Among the relevant topics presented were the feedback from the Board of Directors meetings of the Superintendency of Non-Financial Reporting Entities, delivered by Superintendent Luis Enrique Bandera, on the regulatory progress of the non-financial sector.
A technical report on the Economic Situation of the Financial System of Panama, was presented by Javier Motta, Director of Financial Stability of the SBP, along with his team, who provided an updated analysis of the national financial outlook.
The results and progress of prudential, macroprudential, and coordinated supervision for the prevention of Money Laundering, Terrorist Financing, and Financing of the Proliferation of Weapons of Mass Destruction (ML/TF/WMDP) were presented by Marcela Bernat, Director of Supervision of the Superintendency of the Securities Market (SMV). This presentation reaffirmed the CCF’s commitment to cooperation among regulators in the supervision and prevention process.
The meeting was attended by senior representatives of the main regulatory agencies in the financial sector, including: Kuldip Singh, General Secretary of the SBP; Melissa Abood, General Secretary of the Superintendency of the Securities Market; Erika Vargas, Executive Director of the Panamanian Autonomous Cooperative Institute; Rolando Mejía, Executive Secretary of the Savings and Pension Fund for Public Servants; and Efraín Garrido, General Director of Financial Companies at the Ministry of Commerce and Industry.
Through meetings of this kind, the CCF continues to strengthen a more robust, coordinated, and effective regulatory and supervisory framework, to the benefit of stability and confidence in Panama’s financial system.
