Government struggles to keep Waked companies running

PANAMA’S GOVERNMENT is struggling to find ways to keep the 68 businesses of the Waked family operating and is in contact with the U.S. Department of the Treasury to find a “solution”.

The firms were included on the Clinton List of companies linked to drug trafficking and money laundering.

“The goal is to keep the businesses operating. The problem faced by businesses is that neither banks nor its suppliers can do business with them,” reported Dulcidio De La Guardia, minister of Economy and Finance.

He said he has been informed that companies owned by Abdul Waked generate 2,869 jobs. He has no figures on the jobs of the business group headed by Waked’s nephew Nidal Waked, who was detained last week in Bogota, Colombia, and is waiting to be extradited to the United States where prosecutors are calling for a 50-year jail term for money laundering linked to drug smuggling.

“The government is acting as a facilitator so that the stores can continue to operate. This requires the support from the Waked family,”  De La Guardia said.

The Treasury Department has already been asked what the requirements would be for the sanctioned enterprises to be granted temporary licenses until a permanent solution is found.

Also involved in the discussion are banks that have business deals with the group, reports La Prensa.