Showing posts with label Banco Nacional de Panama. Show all posts
Showing posts with label Banco Nacional de Panama. Show all posts

Monday, July 29, 2013

Retiring in Panama, Belize and Costa Rica

\

Retiring Way, Way South of the Border

Americans are starting to head into Central America for retirement, lured by luxury real estate and eased residency requirements.



When Steven and Robin Fine started searching for a place in Latin America to spend their early retirement, they looked at spots in Mexico and Costa Rica, both popular destinations for American retirees. On a trip two years ago, they decided to stop by Panama, too.
"We thought we would like Panama the least," Mr. Fine, 51 years old, a former communications executive said, "but we liked it the best."
The combination of luxury apartment buildings, good restaurants and modern hospitals drew the couple to Panama City, where 1½ years ago they spent $1.1 million, plus about $250,000 on renovations, on a 48th-floor penthouse with a view of the Pacific. It is now their full-time home.
The Central American nations of Panama, Belize and Nicaragua are increasingly competing with Costa Rica and Mexico for North American retirees and second-home buyers. New luxury developments, outfitted with spas, restaurants, marinas and golf courses, are on the rise. Builders say they are using more high-end materials and adding upscale amenities designed to appeal to affluent American buyers.
image
Bobby Pereira for The Wall Street Journal
Steven and Robin Fine renovated a $1.1 million, 48th-floor penthouse in Panama City.
These countries offer packages of residency and breaks on taxes and fees that imitate Costa Rica's pensionado program, which was introduced in 1971 and helped set the groundwork for a boom in retiree emigration from North America. Nicaragua added such a law in 2009, offering foreigners with retirement incomes tax breaks on everything from cars to construction materials. Last year, Panama, which has a long-established retiree program, created a path to citizenship for retirement residents and introduced a new residency program for people under retirement age that has lowered requirements for investment in property, business and other ventures.
Despite their inroads with American retirees, these countries still don't attract the same numbers as more established destinations, such as Mexico and Costa Rica. In 2011, more than 50,000 Americans collected Social Security in Mexico and more than 5,000 in Costa Rica. But Mexico's well-publicized drug war and escalating violence are starting to push Americans to look at new places for retirement. Central America, however, has its own problems with crime. 
The U.S. Department of State labeled the crime rate in Nicaragua "critical" and the murder rate in Belize "extremely high," though concentrated in Belize City and not in tourist areas. In Costa Rica, petty crime such as theft and "smash and grab" muggings have increased in the past couple of years, along with home invasions. In Panama, murders and gun violence have decreased in recent years, but reported rape and theft have increased. 
"Panama remains relatively safe when compared with other Central American countries, yet crime rates are higher than one would encounter in most of the United States," says the State Department's 2013 report.
...


Sunday, April 18, 2010

Banco Nacional de Panama budgets US$21 million for new core banking system



Panama has no central bank to issue currency but it does have a government-owned bank called Banco Nacional de Panama which acts as clearinghouse for checks and provides dollar bills to the rest of the banking system. It has the largest amount of assets but incredibly enough the bank has no e-banking facility. These and other information technology shortcomings are the reason why a new 433-page RFP has been issued for a the installation and set up of core banking system ("SUMINISTRO DE LICENCIAS, INSTALACION, ADECUACIÓN, MIGRACIÓN Y PUESTA EN MARCHA DE UN SISTEMA INTEGRADO DE GESTIÓN BANCARIA (CORE BANKING), INTERFASES CON OTROS SISTEMAS, REPORTES Y ÁTOMOS PARA LA SUPERINTENDENCIA DE BANCOS Y OTRAS REGULACIONES, A SER UTILIZADOS EN EL BANCO NACIONAL DE PANAMÁ, BANCO DE DESARROLLO AGROPECUARIO Y BANCO HIPOTECARIO NACIONAL"). A reference price of US$21,000,000 has been set with US$15.6 million for the Banco Nacional branches and the rest for the Banco de Desarrollo Agropecuario and Hipotecario Nacional lending institutions.

21 companies have shown interest so far. The deadline for formal offers from qualified companies is April 29, 2010, noon. The full terms are listed in the Panamacompra government procurement website.



21 companies interested in Banco Nacional procurement of computer systems
http://www.prensa.com/hoy/negocios/2156793.asp



Banco Nacional de Panama looks for a new core banking system

30 March 2010
IBS Journal - News Banco Nacional de Panama has published an RFP for a core banking system. This is not the first time the bank has done so. Just over a year ago was the last time it initiated a selection process for a replacement core, but that effort ended unsatisfactorily, with no system able to meet the exceptionally high standards demanded by the bank – so high that only one vendor, Indra, even made a bid (IBS, End of year review 2009).
Vendors may be forgiven for approaching this particular selection process with trepidation, but the feeling appears to be that the bank desperately needs to settle on a replacement this time. ‘We really believe that this time the bank will choose a core system, since its technology situation is in bad shape’, says one source involved in the process. ‘The core is so outdated that the bank can’t open new branches or offer new services.’ The bank has not responded to IBS’s approaches.
Labels: Core Banking Systems, Problem Projects