Does Panama have a good banking center?
Since the 1980’s Panama has offered a world-class banking center and at the moment there are about 90 banks operating in Panama. Of these 90 banks, over 40 bear a general license, which allow them to provide general banking services to local and foreign residents. Its system is very well regulated, and differs from other jurisdictions in that banks always need to have a physical presence (offices, staff, operations, etc) and comply with all required safeguards and asset minimum, as well as with banking rules and the regular supervision of the Banking Superintendence. Only institutions that hold a valid license with the Banking Superintendence are allowed to carry out banking businesses in Panama.
