The Fondo de Ahorro de Panamá Welcomes New Board Member
Panamá | October 14, 2016
The Fondo de Ahorro de Panama (the “Fund”) references the announcement made on October 11 by the National Assembly of Representatives that ratifies the appointment of Anamae Maduro de Ardito Barletta as a new member of the Board of Directors of the Fund.
Mrs. Maduro de Ardito Barletta has more than 15 years of professional experience in the banking and financial sector, specializing in economics and investment banking. Additionally, she is a member of the Board of Prival Bank’s funds and is a founding member of the Association of Securities Dealers of Panama. Mrs. Maduro de Ardito Barletta, graduated from Brown University, in Providence, Rhode Island, USA, where she earned a bachelor’s degree in economics and business administration.
The Fund has a seven board members. New board members are nominated by the Executive branch and ratified by the National Assembly of Representatives and serve for a period of seven years.
About the Fondo de Ahorro de Panama
The Fund was created by Law 38 of June 5, 2012, whose main objectives are:
- Establish a long-term savings mechanism for the Panamanian State; and
- Establish a stabilization mechanism in case of a state of emergency (declared by the Cabinet’s Council) and economic slowdowns.