El único Panamá - Week 21

Welcome to our weekly series about the uniqueness of Panama!

Panama City is the second largest international banking center in the world, second to Switzerland. Banks represent 83% of the financial sector and contribute eight percent to Panama's GDP. Panama banking center (IBC) has 94 entities; 2 official banks; 18 Panamanian banks with a general license; 29 foreign banks with a general license; 29 internationally licensed and 16 representative offices, according to Panama Means Business.