AN EXECUTIVE decree is being prepared to mandate greater control   to increase the control of not-for-profit organizations in Panama  to  prevent them from being used for money laundering.

The initiative, a move towards keeping Panama off tax haven listd  is a joint proposal between the ministries of Government (MinGob) and Economy and Finance (MEF).

"The MEF and MinGob are preparing an executive decree to strengthen the processes of these organizations in the area of transparency since their creation and during their life as legal entities, in compliance with the recommendations of the Financial Action Task Force [FATF]," said the document.