The Superintendency of Banks of Panama (SBP), the Panama Banking Association (ABP), and international experts from the Inter-American Development Bank Group (BID Group) presented, during an event that brought together representatives from Panama’s financial sector, the updated Integrity Guidelines for the banking sector—an essential tool for strengthening trust and transparency within the country’s financial system,
This update is the result of a participatory process launched in 2022, involving regulators, banks, and technical experts, with the support of the BID Group and the PBA. The main objective is: to strengthen the integrity framework of Panama’s banking system by incorporating international best practices tailored to local particularities.
During the event, a 2024 survey directed at the country’s 54 banking institutions—of which 51 responded—was highlighted. This high response rate demonstrated the sector’s strong commitment to continuous improvement in ethics and compliance and was key to guiding the adjustments included in the new Guidelines.
As part of the implementation process, working sessions were held with compliance officers and commercial teams to discuss the changes introduced and provide practical guidance on their application.
The new Guidelines are aimed at banks with general and international licenses, as well as other financial institutions operating in the country. Their purpose is to serve as a reference for strengthening integrity programs, corporate governance, and anti-corruption compliance, in line with the most demanding international standards.
“This project is not only technical—it is deeply strategic. It seeks to consolidate an integrity framework that strengthens trust, which is the real engine of development. Without integrity, there is no trust; and without trust, there is no development,” stated the Superintendent of Banks, Milton Ayón Wong.
This initiative represents a successful model of cooperation between the public and private sectors and reaffirms Panama’s commitment—as one of the region’s leading financial hubs—to the principles of integrity, transparency, and good governance.
