Regulatory Alerts2023-08-02
International Banking (Amendment) (No. 2) Act, 2023
The Belize House of Representatives and Senate enacted the International Banking (Amendment) (No. 2) Act, 2023, to amend the International Banking Act regarding single borrower limits. This legislation modifies Section 21B by replacing the phrase requiring prior written approval of the Central Bank with the word 'The' in subsection (2). Additionally, it repeals paragraphs (b) and (d) of subsection (4) to update the regulatory measures for banks and financial institutions.
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