The Closure of the National Mortgage Bank BHN in Panama.
The Executive Branch’s proposal is now in the National Assembly for discussion.
New functions for Miviot and Caja de Ahorros, the creation of a National Housing Fund Directorate and the transfer of the assets of the National Mortgage Bank (BHN) to the State are some of the main changes contemplated in the bill that orders the closure of this entity. The proposal, presented to the Plenary of the National Assembly by the Minister of Miviot, Jaime Jované, establishes that the closure of BHN’s operations will be progressive and must be completed no later than December 31, 2027.
Miviot would assume functions related to housing policies, subsidies and social interest programs, while the Savings Bank would be in charge of mortgage financing, credit administration and financial products that BHN handled. The project also creates a National Housing Fund Directorate, which would have among its functions coordinating subsidies, identifying land for housing projects and promoting alliances with the private sector for the construction of social housing. Furthermore, the assets and property of the BHN would become assets of the Nation assigned to Miviot and would be exclusively destined for social housing projects.
