Banks in Panama fined total of $3.2 million

Following last week’s revelation that  Standard & Poor’s credit rating agency has changed Panama’s banking outlook from stable to negative over concerns about issues such as compliance comes an announcement that  local financial institutions have been fined  a total of $3.2 million this year.

The fines were levied by the banking regulator and confirmed by its superintendent, Ricardo Fernández in an interview.

Source: Newsroom Panama