Mujeres Modernas De Hoy
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Publicado: 24 de septiembre de 2012
AUGUST 16, 2012
Banking System of Panama
Banking in Panama has its origin from the beginning of our Republic in 1904 with the establishment of the first two banks that were the First NationalCity Bank and secondly, the National Bank of Panama.
With the passage of time were added to the business of banking, other financial institutions as La Caja de Ahorros, began operations in 1934, theBanque Nationale of Paris in 1948 and the General Bank in 1955.
Banking activity is the most developed in our country we have, at the end of the sixties, over a hundred banks. On July 2, 1970, isapproved in Panama the first banking law, thus constituting the base of the International Banking Center.
After overcoming the political crisis affecting the International Banking Center in 1988, when thebanking system was closed for nine weeks, the Panamanian private banking, with the advice of experts in banking, managed to modernize the legislation governing the banking business.
Currently, theBanking Center of Panama has become one of the main squares of the Latin American region. As of December 2004 operated 60-56 foreign banks, 13 Panamanian (of which two are from the State).
Entitiesthat regulate banking in Panama
Superintendency of Banks
The Superintendecy of Banks is an autonomous state agency with legal personality, which administers and manages its funds, regardless of thecentral government. They do their own budget and it is added to the general budget of the State. The Comptroller General’s Office oversees the activities of this entity, without this meaning that itcan intervene in their management decisions.
Banking Association of Panama
The entities performing banking business in Panama or abroad from Panama are unionized by the Banking Association of Panama,since 1962, when it was established this association. Can be part of this partnership, both national, foreign or multinational, as well as public banks.
The Banking Association of Panama should...
Banking System of Panama
Banking in Panama has its origin from the beginning of our Republic in 1904 with the establishment of the first two banks that were the First NationalCity Bank and secondly, the National Bank of Panama.
With the passage of time were added to the business of banking, other financial institutions as La Caja de Ahorros, began operations in 1934, theBanque Nationale of Paris in 1948 and the General Bank in 1955.
Banking activity is the most developed in our country we have, at the end of the sixties, over a hundred banks. On July 2, 1970, isapproved in Panama the first banking law, thus constituting the base of the International Banking Center.
After overcoming the political crisis affecting the International Banking Center in 1988, when thebanking system was closed for nine weeks, the Panamanian private banking, with the advice of experts in banking, managed to modernize the legislation governing the banking business.
Currently, theBanking Center of Panama has become one of the main squares of the Latin American region. As of December 2004 operated 60-56 foreign banks, 13 Panamanian (of which two are from the State).
Entitiesthat regulate banking in Panama
Superintendency of Banks
The Superintendecy of Banks is an autonomous state agency with legal personality, which administers and manages its funds, regardless of thecentral government. They do their own budget and it is added to the general budget of the State. The Comptroller General’s Office oversees the activities of this entity, without this meaning that itcan intervene in their management decisions.
Banking Association of Panama
The entities performing banking business in Panama or abroad from Panama are unionized by the Banking Association of Panama,since 1962, when it was established this association. Can be part of this partnership, both national, foreign or multinational, as well as public banks.
The Banking Association of Panama should...
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