The Panamanian bank Multibank, which also operates in Costa Rica and Colombia, became the first financial institution to lease an office in the Panama Gem & Jewelry Center building of the first stage. The new branch of the bank will specialize in servicing the diamond and jewelry business.
The presence of a banking institution in the center's complex will expand the range of services provided to its resident companies. By providing services tailored to the needs of companies operating in the diamond, color gem and jewelry industry, Multibank will be the first financial institution in Latin America specializing in this sector.
"The ability of Latin America to become a new major jewelry market in the world and Panama's proven ability to act as a professional, efficient, service-oriented business platform is the key to winning a formula," said Isaac Btesh, CEO of Multibank. - The availability of free working capital, financial competence and knowledge of international banking are the "fuel" that nourishes and ensures the smooth operation of the "engine". Multibank is ready to provide all this in the gem and jewelery sector in Panama. "
The founder of the Panama Diamond Exchange (PDE), Eli Izhakoff (Eli Izhakoff) noted that "this is the most important stage in the development of the Center." "It is especially gratifying that the first bank in the complex was a local credit and financial institution, which underlines the high degree of confidence of the regional financial community in relation to this project," he said.
The PDE-controlled project for the creation of the Panamanian Center for Precious Stones and Jewelry worth $ 200 million is the largest and most ambitious initiative ever undertaken in the interests of jewelry trade in Latin America. The center will serve as a trading platform for local and international companies on the market, which today is estimated at $ 8 billion and has 11,500 retail outlets in 20 countries and 23 islands.