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PANAMA'S BANKING CENTREPanama´s Banking Centre is the most important in Latin America with around one hundred banks –half are banks with general license and the rest are banks with international license and with representative license. The lack of a Central Bank, the United States dollar as legal tender, tax benefits and other additional advantages are key incentives that make that more banks establish here in Panama. The Banking Centre is a strong column of the economic system in Panama. It has macroeconomic stability, growth, low inflation, absence of change risk and interest rates closest to internationals´.
PANAMA'S BANKING LEGISLATIONPanama has an appropriate and updated legislation that always looks after transparency, and prevents illegal use of banking system in money laundering and terrorism. Panama has won the recognition of one of the principal International Agencies of Risk Qualification and of Multilateral Credit Organisms by strengthening the implementation of the National Plan for efficiently combating capitals laundering and terrorist financing.
SUPERINTENDENCY OF BANKSIn Panama the Superintendency of Banks is the authority which grants banking licenses and authorize banking activities according to the law.
The Superintendency is an independent
State organism which essential duties are to make a stronger, stable,
and efficient banking system, supervise banks and economic groups
whereof they make a part, grant and cancel banking licenses, decree
corrective measures with respect to banks (designation of advisors,
intervention, reorganization, forced liquidation, imposition of
fines, etc.) in addition to authorizing bank mergers and the
administration of the daily tasks of the Superintendency. For more information about Banking Assessment go to our section CONTACT US We will answer quickly and accurately enough to help you decide in your next investment in Panama. |
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