Regulatory Alerts2012-10-03
Domestic Banks and Financial Institutions Act, 2012
The Parliament of Belize enacted this Act to replace the Banks and Financial Institutions Act and establish a comprehensive regulatory framework for domestic banks and financial institutions. The legislation empowers the Central Bank of Belize to supervise licensees, enforce capital and liquidity requirements, and mandate fit-and-proper standards for directors and officers. It further provides mechanisms for statutory administration, winding-up procedures, and the establishment of an Appeal Board to address deficiencies and protect the interests of depositors and creditors.
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