As one of the most dynamic parts of Panama’s economy, international banking plays is a major player in Panama’s success today. As the second largest banking centre in the world with over 120 banks in Panama City alone, Panama plays a significant role in the world financial arena.
Panamanian banking legislation has established three types of banking operation:
Banks are organized into two groups: the Panamanian Banking Association (Panamanian and foreign banks) and the Association of Panamanian Banks (Panamanians banks only). The are licensed and regulated by the Banking Supervisory Authority (Superintendencia de Bancos) and as the banking sector is second only in size to Switzerland, banks are considered to by the international banking community to be very stable.
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