Regulatory Alerts2020-03-25
Direction No. 12B/2019 - Fully Cash Secured Credit to Non-Resident Belizean Nationals
The Central Bank of Belize issued Exchange Control Direction No. 12B/2019 to exempt authorized lenders from requiring prior regulatory permission when extending fully cash-secured loans to non-resident Belizean nationals. This directive defines eligible borrowers as natural persons residing outside Belize for at least one year and explicitly excludes credit cards and the underlying transactions funded by such loans. Financial institutions must submit monthly reports with proof of cash security within five business days following the end of each reporting period.
Share