The Republic of Panama has a robust and world-class banking center with more than 100 local and foreign banks operating under different types of licenses.
It is important to note that the banking sector in Panama is a regulated business, i.e. which by law must meet certain parameters to practice as such.
Bank regulation is somewhat complex and has been legislated through several laws passed in different moments in time. Law 2 of February 22, 2008 seeks to establish a text run where regroups all modifications and / or regulation of the banking sector in one whole document.
Panama Banks has enlisted the most important aspects of Panamanian Banking Law as follow.