The Board of Directors of the Superintendency of Banks of Panama (SBP) issued Rule 1 of 2026, dated January 16, 2026, through which it updates provisions aimed at preventing the misuse of banking and fiduciary services, with the objective of strengthening the regulatory framework applicable to supervised entities and consolidating the control and oversight mechanisms of Panama’s financial system.
The Rule introduces regulatory adjustments designed to reinforce the prevention, detection, and mitigation of risks associated with illicit activities, such as money laundering, terrorist financing, and other conduct that may compromise the integrity, stability, and reputation of banking and fiduciary services. These updates respond to the need to maintain a dynamic regulatory framework aligned with the evolving nature of financial and operational risks, as well as with international standards and best practices in compliance.
Among the main aspects addressed by Rule 1 of 2026 are provisions related to customer knowledge and due diligence, the application of enhanced due diligence measures, transaction monitoring and analysis, comprehensive risk management, and the obligations of supervised entities regarding the design, implementation, and strengthening of effective policies, procedures, and internal controls.
Through the adoption of this Rule, the SBP strengthens the supervisory and regulatory framework of the banking and fiduciary system, promoting prudential practices that contribute to a safer, more transparent, and reliable financial environment, for the benefit of system users and the proper functioning of Panama’s banking center.
It is important to note that Rule 1-2026 expressly revokes prior regulations, including Rules 10-2015, 1-2013, 8-2000, and 10-2000.
Rule 1 of 2026 will enter into force as provided in its text, granting the entities subject to its application the corresponding period to align their processes, systems, and internal controls with the new provisions.
For compliance with Article 14, banking institutions will have until June 30, 2027, while paragraph 1 of Article 25 must be complied with no later than January 31, 2027, as established by the SBP.
For further details on Rule 1-2026, please access the following link: https://www.superbancos.gob.pa/documentos/leyes_y_regulaciones/acuerdos/2026/Acuerdo_01-2026.pdf
