Professional Ethics at Panama
Professional ethics in Panama are guided by a combination of national regulations, institutional codes, and international standards, particularly in sectors such as public administration, healthcare, business, and corporate governance. Here's an overview of the ethical frameworks across these domains:
🇵🇦 Public Sector Ethics
Code of Ethics for Civil Servants
The Executive Decree No. 124 of 1999 establishes ethical standards for civil servants in Panama's executive branch. Key principles include:
Probity and Transparency: Civil servants must act with integrity and openness.
Impartiality and Responsibility: Decisions should be made based on fairness and accountability.
Prohibition of Gifts and Conflicts of Interest: Accepting gifts or engaging in activities that could compromise objectivity is prohibited.
Duty to Report Misconduct: Employees are obligated to report any criminal conduct or omissions they become aware of. (Panama: Report on the Observance of Standards and Codes (ROSC)—Data Module Volume III in: IMF Staff Country Reports Volume 2021 Issue 039 (2021))
These standards aim to promote ethical conduct and public trust in government institutions.
🏥 Healthcare Ethics
Ethical Guidelines in Healthcare Institutions
Panama's healthcare sector adheres to ethical guidelines that emphasize:
Patient-Centered Care: Prioritizing the well-being and rights of patients.
Confidentiality: Ensuring the privacy of patient information.
Professional Competence: Maintaining high standards of medical knowledge and skills.
Integrity and Honesty: Upholding truthfulness in all professional interactions.
These principles are reinforced through training programs and institutional policies aimed at fostering ethical practices among healthcare professionals.
💼 Business and Corporate Ethics
Corporate Governance and Ethical Practices
While Panama does not mandate comprehensive corporate governance regulations, many companies voluntarily adopt ethical practices, especially in the banking sector. For instance, the Superintendence of Banks issued Rule 2-2023, requiring banks to ensure that shareholders, directors, and key personnel possess recognized competency, reputation, and moral and economic solvency. This includes adopting policies to identify, evaluate, and monitor these criteria. (Corporate Governance 2024 - Panama | Global Practice Guides | Chambers and Partners)
Additionally, companies like the Panama Canal Authority (ACP) have been recognized by the Ethisphere Institute as one of the World's Most Ethical Companies, highlighting their commitment to ethical business practices and corporate governance. (Panama Canal Joins Ethisphere’s Business Ethics Leadership Alliance - Autoridad del Canal de Panamá)
📚 Institutional Codes of Conduct
Grupo Verde Azul Code of Ethics
Grupo Verde Azul, a Panamanian company, has established a comprehensive Code of Ethics that includes: (Code of ethics – Grupo Verde Azul)
Legal Compliance: Adhering to all applicable laws and regulations.
Confidentiality: Protecting sensitive information.
Conflict of Interest: Avoiding situations that could compromise objectivity.
Anti-Corruption Measures: Refraining from accepting or offering bribes and inappropriate gifts.
Respectful Conduct: Promoting a workplace free from discrimination, harassment, and violence. (Code of ethics – Grupo Verde Azul)
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