Panama banking

With more than one hundred banks panama’s banking centre is one of the most important in Latin America. Panama provides unique advantages for banking, financial and commercial activities due to the absence of a central bank, a paper currency and monetary authority. The use of the American dollar contributes to strengthen the banking and International business company industry.
Panama’s banking law meets the standards of leading financial centers around the world for transparency and regulation and offers the same advantages, such as banking secrecy, as known in many countries. Panama is one of the most secure international offshore centers in the world and has further achieved to obtain and/ or maintain international cooperation, modern legislation and competitive advantages.