country’s significant progress in the prevention of money laundering, terrorist financing and financing the proliferation of weapons of mass destruction.<\/strong><\/p>\n\n\n\n“Highlying Panama’s progress in these areas is a valuable opportunity for our country,” Minister Alexander said during the inauguration of the event. “Participation in this forum is a tangible sign of the importance it has for Panama and the region to work together to achieve great goals that benefit our populations in the fight against organized crime,” he added.<\/p>\n\n\n\n
The minister stressed the sustainable growth of the Panamanian economy over the years<\/strong>, even under challenging circumstances such as the Covid-19 pandemic. “Panama has shown an average economic growth close to 6% per year, leading the Latin American region in this aspect<\/strong>,” he said.<\/p>\n\n\n\nHe emphasized the importance of developing effective policies and standards to guarantee the sustainability of Panama’s growth and development, with a fundamental focus on the prevention of money laundering, terrorist financing and other illicit activities.<\/p>\n\n\n\n
Alexander highlighted the significant efforts of Panama and the Latin American region in the prevention of money laundering and terrorist financing, including the generation and updating of standards in accordance with international standards, as well as the strengthening of tools and knowledge to regulate and monitor sectors and commercial activities in a timely manner.<\/p>\n\n\n\n
He also highlighted the actions implemented by Panama to improve transparency and combat organized crime, which led to the exclusion of the country from the Grey List of the International Financial Action Task Force <\/strong>(FATF) in October 2023, and from the List of High-Risk Countries for Strategic Deficiencies in the Prevention of Money Laundering and Terrorist Financing of the European Union <\/strong>in March 2024.<\/p>\n\n\n\n“Today we have the Single Registry of Final Beneficiaries, which has allowed us to be a step forward in the identification of final beneficiaries,” said the head of the Ministry of Economy and Finance (MEF).<\/p>\n\n\n\n
At the same time, he emphasized the shared responsibility to implement measures against money laundering, terrorist financing and other illicit activities, highlighting the importance of continuing to join efforts to address the challenges of international financial and fiscal transparency.<\/p>\n\n\n\n
The fifth version of the Forum that takes place until today, Friday, April 12, brings together professionals and technicians from all the regulated sectors of Panama, which include the financial and non-financial sectors, representatives of the private sector and public officials from different jurisdictions.<\/p>\n\n\n\n