The Commissioner of Financial Services (FSC) of Montserrat paid a recent courtesy visit on the superintendency of the Banks of Panama, Milton Ayon Wong and his technical team.
Fabian Singh was accompanied by his deputy, Donilia Cuffy to the meeting in Panama City.
Both Singh and Wong formalized a revised Memorandum of Understanding (MoU) to strengthen the joint supervision of licensed international banks.
This collaborative framework ensures alignment with regional Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) regimes.
During courtesy engagements in Panama City, representatives from both entities—including FSC Commissioner Fabian Singh and Panama’s banking regulators—discussed critical regulatory objectives.
The updated MoU strengthens prudential and financial oversight frameworks between the two jurisdictions.
Discussions highlighted Montserrat’s Publicly Accessible Register of Beneficial Ownership (PARBO) and Panama’s ongoing advancements in corporate transparency.
Both agencies are preparing for upcoming Financial Action Task Force (FATF) and Caribbean Financial Action Task Force (CFATF) Mutual Evaluations.
Also, during the meeting, both authorities (Singh and Wong), exchanged experiences and addressed issues of common interest related to banking supervision, financial transparency, and international regulatory challenges.
The meeting highlighted the importance of cooperation and sharing of experiences between he regulatory bodies of Panama and Montserrat, and strengthening institutional bonds for for the benefit of the stability and integrity of their financial systems.