Panama banks deny accusations of corruption

Panama's bank association, APB, has denied allegations of corruption made by local media.

In a statement, the APB said all of its members are subject to strict measures and supervision of the country's bank superintendency.

Rafael Guardia, former director of a national economic program during the previous government, is currently detained as an ongoing investigation takes place concerning the improper use of millions of dollars of public money during the Martinelli administration.

Full story (in Spanish)