The
International Banking Center
Following the service tradition
which characterizes the Republic of Panama, Cabinet Act N° 238 of 1970 amended
the banking system and provided our International Financial Center with a series
of benefits, which have made Panama one of the most important and efficient banking
centers of Latin America, with more than 100 national and foreign banks enjoying
its benefits. Among its most important features, we can indicate:
•
Free flow of funds, with minimum controls or registrations;
•
The Banking Secret, which is protected by the law;
•
There is no regulation on the repatriation or exodus of capitals;
•
The interests are not subject to any kind of assessment; and
•
Free circulation of the Dollar as the legal currency.
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