Assets in Panama banks reach record level despite scandal
The International Banking Center said members' assets "reached the record level of $121.075 billion" - a jump of 3.3 percent over 2015.
The International Banking Center, which represents Panamanian and foreign banks, said members' assets "reached the record level of $121.075 billion" -- a jump of 3.3 percent over 2015.
Panama has come under intense international tax scrutiny since the Panama Papers revelations a year ago on how the world's wealthy stashed their assets in offshore companies.
The two partners of the Mossack Fonseca law firm in Panama -- whose plundered digital records were the source of the information -- are in custody on allegations of money laundering.
Panama's economy is forecast to grow the fastest of any in Latin America this year -- over six percent, according to the World Bank.
The country is a regional transport hub, with a major international airport and the recently expanded Panama Canal.
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