Banking Congress in Panama

On February 14th and 15th, representatives of banks, international financial institutions and risk rating agencies will meet in Panama City to discuss issues related to the sector.

Friday, November 23, 2018

The event called "International Banking Congress for Regulators & Bankers," will be organized by the Superintendence of Banks of Panama (SBP) and seeks to address issues such as Basel III, prevention of money laundering, de-risking, new risks facing the industry, financial innovation-Fintech, cybersecurity, among others.

SBP representatives informed that the congress will have the participation of the banking supervisors of America, banking directors, representatives of correspondent banks, as well as risk rating agencies and multilateral.

Ricardo Fernandez, superintendent of Banks of Panama, said to Elcapitalfinanciero.com that "... For the first time, both regulators and bankers will meet in the country in search of best practices to develop the financial sector."

More on this topic

New Law for Financial System in Guatemala

September 2016

Details of the draft law with which the Bank of Guatemala aims to improve regulation and supervision of the financial system.

From a statement issued by the Bank of Guatemala:

The bill submitted by the Monetary Board of the Executive Agency and by the President of the Republic to the Congress of the Republic on September 12 2016, introduces necessary reforms to Decree No. 19-2002, Law on Banks and Financial Groups, to modernize existing legislation and improve protection of depositors. The bill is based on the following aspects:   

International Finance Summit in Panama

September 2016

On October 12 and 13 representatives from the banking and financial sector will be gathering together in Panama City to discuss issues relating to regulation, business and investment.

The International Finance Summit is an event being organized by the Banking Association of Panama and will be held at the Hotel Trump Ocean Club Convention Center.

Warnings in Panama Over Financial Fraud

April 2012

The Superintendency of Banks in Panama is keeping a list containing names of companies that are not authorized to perform private banking or trust activities.

Current investigations into the company Pronto Cash has brought to the fore the risk of financial fraud by companies which are not controlled by the Superintendency of Banks.

Panamanian Banks Obliged to Hire Risk Rating Companies

March 2010

Banks are now forced to hire specialized Risk Rating companies.

The Panamanian Banking Superintendence passed accord 2-2010, which introduces regulations regarding risk rating at banks.

According to the recently passed regulation, Official Banks, General License Banks and International Licensed Banks must hire, at their expense, the services of specialized Risk Rating companies.

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