Panama: Panama’s Multibank has become the first financial institution to secure office space in the Phase I building of the Panama Gem & Jewelry Center (PGJC). Providing a range of banking products and services, the Panama City-headquartered bank also has operations in Costa Rica and Colombia, a representative office in Peru, and is the main company in the Multi Financial Group.

The Multibank branch in the PGJC will offer services especially tailored for the diamond and jewelry business, and in so doing will become the first Latin American financial institution to specialize in these sectors. Its presence will enhance the range of facilities provided to professional residents of the center, which is designed to become the primary trading hub for the diamond, colored gemstone and jewelry industry in the entire region.

“Multibank is delighted to be associated with the Panama Diamond Exchange, the Panama Gem & Jewelry Center, and their program to establish the country as the premier trading hub for the diamond, gemstone and jewelry trades in all of Latin America,” said Isaac Btesh, Multibank’s CEO and Executive President.

“The potential of Latin America to grow into the world’s next great jewelry market, and Panama’s proven capacity to serve as a professional, efficient and service-oriented business platform, provide the promise of a winning formula. Capital facilities, financial expertise and international banking acumen are the oil that will fuel the engine, and ensure that it runs smoothly. Multibank is committed to provide the gem and jewelry sector in Panama all of those,” Mr. Btesh added.