Consumer credit in Panama
July 18, 2006
In Panama it is pretty easy to achieve credit if you have a steady job. However for the many people who don’t have a steady job or just don’t care to face the stares of the bank manager the pawn shops are the number one source of consumer credit. The have colorful ads on TV and radio.
This chain “Mas me Dan” (literally They give me more) is one of the biggest and also serves as an agency for Moneygram the large money transmitter.
Money transmitters are of vital importance in both countries with many immigrants like the US and Panama but of course also in emigrant countries like Mexico, Colombia and El Salvador.
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