Regulatory Alerts2019-05-13
Agreement No. 004-2019 Modifying Article 2 of Agreement No. 006-2017 on Shared Banking
The Banking Superintendence of Panama issued Agreement No. 004-2019 to amend Article 2 of Agreement No. 006-2017 regarding shared banking operations. The modification introduces an exception to the prohibition on sharing front-office staff and areas, allowing banks acting as alternative marketing channels for insurers under Law No. 12 of 2012 to share such resources. This change aligns shared banking regulations with insurance marketing laws while maintaining requirements for economic group affiliation and clear customer identification.
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