{"id":19323,"date":"2017-03-21T11:39:17","date_gmt":"2017-03-21T16:39:17","guid":{"rendered":"http:\/\/panamaadvisoryinternationalgroup.com\/blog\/?p=19323"},"modified":"2017-03-21T11:39:17","modified_gmt":"2017-03-21T16:39:17","slug":"assets-panama-banks-reach-record-level-despite-panama","status":"publish","type":"post","link":"https:\/\/panamaadvisoryinternationalgroup.com\/blog\/assets-panama-banks-reach-record-level-despite-panama\/","title":{"rendered":"Assets in Panama banks reach record level despite ‘Panama"},"content":{"rendered":"

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Banks based in Panama managed a record level of assets last year — USD 121 billion — despite fallout from the “Panama Papers” scandal, an industry body in the Central American country has said.<\/p>\n

The International Banking Center<\/a>, which represents Panamanian and foreign banks, yesterday said members’ assets “reached the record level of USD 121.075 billion” — a jump of 3.3 percent over 2015.<\/p>\n

Panama has come under intense international tax scrutiny since the Panama Papers revelations a year ago on how the world’s wealthy stashed their assets in offshore companies.<\/p>\n

The two partners of the Mossack Fonseca<\/a> law firm in Panama — whose plundered digital records were the source of the information — are in custody on allegations of money laundering.<\/p>\n

Panama’s economy is forecast to grow the fastest of any in Latin America this year — over six percent, according to the World Bank<\/a>.<\/p>\n

The country is a regional transport hub, with a major international airport and the recently expanded Panama Canal.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Banks based in Panama managed a record level of assets last year — USD 121 billion — 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