The Board of Directors of the Fondo de Ahorro de Panama Re-elects its Chairman and Vice Chair
Panama | November 19, 2018
The Board of Directors of the Fondo de Ahorro de Panama (“FAP” or “Fund”) resolved on November 15, 2018, during its ordinary board meeting, to re-elect its Chairman and Vice Chair, José N. Abbo and Anamae Maduro de Ardito Barletta, respectively.
Mr. Abbo, a financier and author of recognized international financial and economic publications, has served as Director of the FAP since 2012, as Vice Chair from 2012 to 2016, and as Chairman since 2016. Ms. Maduro de Ardito Barletta has more than 17 years of professional experience in the financial and banking sector and has served as Director of the FAP since 2016, and as Vice Chair of the entity since that year.
In this regard, Chairman Abbo commented: “I am honored to have been re-elected, alongside Vice Chair Maduro de Ardito Barletta. It is an honor for both of us to continue serving the Fund and with the Board; we will continue to work as a team to strengthen the Fund in order to ensure the preservation of this important asset, property of all Panamanians.”
Chairman Abbo and Vice Chair Maduro de Ardito Barletta were elected for a maximum period of two (2) years, as stipulated in Board’s bylaws.
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.