Panama will be the Permanent Headquarters of the Executive Secretariat of the Central American Council of Superintendents of Banks, Insurance and Other Financial Institutions (CCSBSO).
To choose the permanent headquarters, the Superintendent General of Financial Institutions of Costa Rica, Mr. Francisco Lay Solano, representing the Permanent Executive Secretariat (SEP, by its acronym in Spanish) Commission, comprising of Costa Rica, Panama, and Guatemala, presented to the General Assembly of the Council, the results of the analysis made, in which they evaluated key factors, such as: safety, costs, and qualitative aspects of the candidate countries, Guatemala and Panama.
The Executive Secretariat, which will start permanent operations in Panama in August 2011, is an administrative body of the Council that will respond exclusively to it, without any relationship or subordination to the host country.
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