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Panama's financial industry as a whole is the largest in Latin America. It focuses primarily on the banking, insurance and securities industries, whereas banking represents about 92% of the financial center's total assets.

Panama's financial center is characterized by:

  • legal certainty
  • prudent oversight
  • no systemic shocks or banking failure
  • US-dollar based economy with no central bank
  • continuous technological modernisation
  • stable economic and labour regulations
  • extensive network for communicating with international capital markets
  • unrestricted transfer of foreign currencies