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Saturday, Dec 05, 2020

Banconal es la única institución en Centroamérica y el Caribe invitada a este foro

National Bank of Panama is invited to be part of the World Economic Forum

The National Bank of Panama confirmed this Monday that it was invited to be part of the World Economic Forum.

In this way, we become the only institution that is currently a member in the Central American and Caribbean area, and one of the relevant companies in the Latin American region that are members of this prestigious global organization, said Javier Carrizo Esquivel, General Manager of this institution.

The World Economic Fund is made up of important institutions, among which we can mention: World Bank (World Bank Group), Bank of England, Bank of Japan, Hewlett Packard Enterprise, Amazon Web Services, Alibaba Group, JPMorgan Chase & Co., Microsoft, Visa Inc., Master Card, Banco Santander SA, Bank of America Corp., The Goldman Sachs Group Inc, Standard Chartered Bank, HSBC Holding Plc, Credit Suisse AG and Citi, among others.

The National Bank of Panama (or Banco Nacional de Panamá, or Banconal) was invited to be a member of this global organization, taking into account the relationship that the World Economic Forum and Panama have maintained for many years, which is further consolidated with the incorporation of Banconal as a member. In the context of the current pandemic, Panama and the Bank will greatly benefit from this alliance by integrating it into the work we do with the most influential companies and individuals around the world. We hope that more high-profile Panamanian companies will follow in the footsteps of Banco Nacional de Panamá, said Marisol Argueta, Senior Director for Latin America at the World Economic Forum.

In another sense, the general manager of Banconal stressed that the invitation comes prior to the celebration of the bicentennial of the Republic.

This important milestone for Banco Nacional de Panamá comes just before commemorating the bicentennial of our independence from Spain. Not only does it cement Banconal's solid commitment to the sustainable and inclusive growth of the country, but it also reinforces Panama's economic foundations. This prestigious membership places us within the sphere of decision makers, who seek to find truly sustainable and global solutions to improve the state of the world. This will allow us to make significant contributions from the vision of a country of service, focused on its prompt and effective economic recovery, ”added Carrizo Esquivel.

Each member organization of the Forum participates in a specific platform. The one chosen for Banconal to engage with is the one that aims to build a more efficient, resilient and equitable international financial system by providing a platform for all stakeholders. These will serve to connect, identify shared needs and collaborate to achieve viable solutions in the global financial system. The initiatives of this platform are in line with the government's national strategy for the digital hub, particularly in the area of ​​cyber security and fintech, added Carrizo Esquivel.

Leadership in Latin America

The National Bank of Panama has the opportunity to participate and leadership in intersectoral initiatives and activities in Latin America, participation in the Association Against Corruption Initiative (PACI), assistance to relevant global trainings such as global financial inclusion and artificial intelligence in financial services among others, training at the Center for the Fourth Industrial Revolution in San Francisco, access to the Forum's global strategic intelligence, participation in the World Summit on Innovation and Technology (China), Regional Action Group on Latin America, Regional Summits on LATAM , Africa, Southeast Asia and India and participation in the Impact Summit on Sustainable Development, among others.

Due to the urgent need for different organizations and regions to cooperate in simultaneous management to solve the consequences caused by the COVID-19 crisis, the Forum officially launched the Great Reset initiative or “The Great Reset”, which will be the theme of the forum in Davos in 2021.

All the institutional member companies of the Forum are at the center of all the activities of this organization and their support is essential to help find truly sustainable and global solutions to improve the state of the world.

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