Regulatory Alerts2014-12-19
Direction No. 12/2014 - Loans, Overdrafts, Guarantees and Bank Credits
The Central Bank of Belize issued Direction No. 12/2014 to regulate cross-border financial transactions by requiring prior permission for residents to lend to or borrow from non-residents. The directive mandates that applications for such permissions must include detailed information regarding the parties involved, the amount, purpose, and terms of the proposed credit. Additionally, the regulation prohibits authorized dealers and other residents from lending foreign currency to local residents without specific Central Bank approval.
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