Panama President Laurentino Cortizo has vetoed a Bill passed by the country’s National Assembly, stating that it needs adaptation to the rules governing the Panamanian banking system.
The President, in the 32-page veto, also wrote it was imperative to conform the new regulation with the recommendations of the International Financial Action Task Force (FATF), in order to continue the path defined by the State in terms of fiscal transparency and prevention of money laundering.
