We present a MSSM study of the b -> s gamma decay in a Minimal Flavor Violating (MFV) framework, where the form of the soft SUSY breaking terms is determined by the Standard Model Yukawa couplings. In particular, we address the role of gluino contributions, which are set to zero in most studies of the MFV MSSM. Gluino contributions can play an important role in the MFV MSSM whenever mu * tan(beta) is large. In fact, similarly to chargino contributions, gluino contributions are tan(beta) enhanced and can easily dominate charged Higgs contributions for large values of tan(beta). Even though each of the separate contributions to b -> s gamma can be sizeable by itself, surprisingly no absolute lower bound can be placed on any of the relevant SUSY masses, since patterns of partial cancellations among the three competing contributions (Higgs, chargino and gluino) can occur throughout the MSSM parameter space.
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