Latests Notices to the Public
Unlawful banking business:
The Superintendency of Banks of the Republic of Panama advises the general Public that the persons and/or companies included in the following list do not hold a banking license to engage in the banking business within or from the Republic of Panama. This means, that these persons and/or companies are not empowered to collect, directly or indirectly, resources from the public by means of deposits or otherwise.
Only companies and persons holding a Banking License granted by the Superintendency of Banks are entitled to engage in the banking business within or from the Republic of Panama. (For further information on Banks duly authorized to engage in the banking business within or from the Republic of Panama, please click on the following link: Authorized Banks)
Companies and persons engaging in the banking business without the required license or illegally collecting financial resources from the public will be subject to the sanctions established in articles 45 and 185 of the Banking Law. The above does not preclude the imposition of sanctions set forth in Article 244 of the Criminal Code of the Republic of Panama.
Finally, we deem it important to advise that, as of the entry into force of Decree Law 2 of 2008 on 25 August 2008, individuals are prohibited from collecting resources from the public, within or from Panama, directly or indirectly, by means of deposits or otherwise, unless that person: (a) has a license or authorization for such activity duly approved by the relevant authority or regulator or (b) is engaged in collection activities exempted by law from needing a license, regulation or authorization. The Superintendency is empowered to inspect books, accounts, and documents in order to determine compliance with this provision.
Trust Business within or from the Republic of Panama:
Only persons duly authorized by the Superintendency and that have been granted a Trust License may engage regularly and professionally in the Trust Business within or from the Republic of Panama. For further information on the entities that hold a Trust License, please click on the following link: Directory of Trust Companies