In order to strengthen the protection of banking consumers and align the regulatory framework with the country’s current economic reality, the Board of Directors of the Superintendency of Banks of Panama (SBP) approved Rule 5-2025 dated July 15, 2025, through which Articles 199 and 208 of the Banking Law are updated.
Since the Claims Handling System was created in 2008, the cost of banking products and services has increased, driven by a cumulative 35% rise in the consumer price index. This change has reduced the practical scope of the amounts originally set forth in the Banking Law, making it necessary to revise them.
This new Rule broadens the definition of a banking consumer. Now, more individuals will be able to benefit from the protections established in the Banking Law. The maximum amounts to qualify as a banking consumer have been increased in the following categories:
· Personal or family consumption loans: up to B/.68,000.00 per transaction.
· Loans for the purchase, construction, or improvement of a primary residence: up to B/.169,000.00 per transaction.
· Demand deposits: up to B/.27,000.00 per account.
· Savings or time deposits: up to B/.68,000.00 per account.
The monetary limit for the SBP to hear and resolve complaints submitted by banking consumers is also adjusted, pursuant to Article 208 of the Banking Law. This ensures that more users of the banking system can access a quick and effective resolution to potential disputes with financial institutions.
This update is part of SBP’s ongoing commitment to promoting a trustworthy, transparent, and fair financial system. By aligning legal thresholds with current economic conditions, the SBP ensures that consumers’ rights remain protected and that banking institutions continue to operate under clear and equitable rules.
For more information, please consult the Rule available in the regulatory framework section of the website: www.superbancos.gob.pa.
