Industry WIKI

Panama has a substantial financial services sector. The sector grew up providing trade finance for trade passing through the Panama Canal, and later evolved into money laundering for the drug trade under Manuel Noriega.

The International Business Companies Act, 1984 was a statute of the British Virgin Islands which permitted the incorporation of International Business Companies (IBCs) within the Territory. The Act played in a huge role in the economic and financial development of the Territory in the 1990s. It has been called "the most important piece of legislation in BVI history since the emancipati