As part of the efforts to enhance interinstitutional cooperation, the Superintendency of Banks of Panama (SBP) and the Superintendency of Non-Financial Reporting Entities (SSNF) signed a Cooperation Agreement that marks a milestone in supervisory coordination between both authorities.
The agreement, signed by the Superintendent of Banks, Milton Ayón Wong, and the Superintendent of Non-Financial Reporting Entities, Isabel M. Fernández, establishes a framework for reciprocal technical cooperation and the exchange of statistical and strategic information, with the objective of strengthening supervisory capabilities in the prevention of money laundering, terrorist financing, and the financing of the proliferation of weapons of mass destruction (AML/CFT/CPF).
As part of this partnership, several joint initiatives are envisaged, including the exchange of relevant information, the organization of working groups, and participation in workshops, secondments, training programs, and specialized events. These actions are aimed at strengthening the management of risks associated with financial crimes and promoting more effective supervision.
The signing of this agreement will help consolidate technical capabilities of both superintendencies, foster the adoption of best practices, and reinforce institutional coordination, in line with international standards on prevention and supervision.
It is worth noting that this instrument represents the first cooperation agreement signed between the two entities since the former Intendency of Non-Financial Reporting Entities was elevated to the rank of Superintendency, marking a significant step forward in strengthening the supervisory framework and enhancing the effectiveness of preventive actions at the national level.
Through this initiative, the SBP reaffirms its commitment to working in close coordination with the competent authorities to strengthen the integrity, transparency, and soundness of the financial system, as well as the country’s economic activities.
