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Banking Law - Executive Decree No. 52 (of 30 April 2008)
About Panama
Panama no longer has offshore banks. In fact, you cannot open an offshore account in Panama from abroad anymore. Besides its local banks, most banks in Panama are private or investments banks.
Because of its privileged geographical position, Panama's economy is robust. It is based largely on its well developed service sector, including services provided by the Panama Canal, banking, commerce, tourism and the Colón Free Zone.
Interestingly Panama has no central bank but banks and other financial institutions are supervised by the Superintendencia de Bancos de Panama (Superintendency of Banks of Panama).
Panama also earned substantial rents through the construction of the trans-Panamanian oil pipeline and by the licensing of the Panamanian flag to merchant ships from around the world.
Banks
Atlantic Security BankFinancial advisory services, investment products and banking. (In Spanish)
BAC Bank, Inc.
Provides international banking services. (In Spanish)
Banco Credit Andorra (Panama), S.A.
Asset management and financial services.
Banco de Bogota, S.A
Investment Banking, Corporate Banking and International Banking.
Banco Ficohsa (Panama), S.A.
Provides general banking and financial services. (In Spanish)
Banco Internacional de Peru, S.A.A – Interbank
Banking and financial services. (In Spanish)
Bancolombia (Panama), S.A
Provides corporate and personal banking and financial services. (In Spanish)
BHD International Bank (Panama), S.A.
International banking and financial services. (In Spanish)
Inteligo Bank, Ltd
Private anking and financial services.
GTC Bank, Inc.
Provides offshore, corporate and personal banking. (In Spanish)
International Union Bank, S.A.
Saving accounts, term deposits and interational banking services. (In Spanish)
Pacific Bank
Provides international bank account and term deposits. (In Spanish)
Popular Bank Ltd., Inc.
International personal and xorporate banking services.
List of banks in Panama with General License
List of banks in Panama with International License
List of Panama Offshore company service providers
Background Facts
Panama is located in Central America, bordering both the Caribbean Sea and the North Pacific Ocean, between Colombia and Costa Rica
Population: 3,510, 045 (2012 est.)
Capital: Panama City
Dialing code: 507
Currency: Panamanian balboa, US$
Exchange control:
There are no exchange controls in Panama
Government:
Constitutional democracy
Official language: Spanish
Legal System:
Civil law system; judicial review of legislative acts in the Supreme Court of Justice
Bank Legislation:
(.PDF Downloads)
Executive Decree No. 52 (of 30 April 2008)
Table Of Contents Banking Law – Sole Text
