It’s a hard balance to maintain. Panama’s financial system, once synonymous with corruption, is now highly regulated. But to maintain its appeal to the international banking community, its business environment can’t be too tightly controlled. Can Panama sustain a balanced economic climate?
Robert A. Williams
Vice President and General Manager
Robert Williams, Vice President of Scotiabank Panama, puts it succinctly. “Maintaining the appropriate balance between regulation and ease of business in the banking center is crucial for success and sustainability.” The banking scene certainly looks healthy, with more than 70 banks on this tiny strip of land. These aren’t small, regional banks, either: “As of October 2013, the International Banking Center in Panama held over US $90 billion in assets; this is huge compared to the size of the country.”