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Belize: fintech & payments regulation

Regulated

Belize VASP and payment licensing under 2024 NPS Regulations; CBK oversight

Lead regulator:
Central Bank of Belize
Key law:
National Payment System Act, 2023 (Amendment) and National Payment System Regulations, 2024
Last updated:
2026-07-12

The Central Bank of Belize (CBK) is the primary regulator for fintech and payment services, operating under the National Payment System Act and its 2024 Regulations. This framework mandates licensing for all payment service providers and system operators to align with Financial Action Task Force recommendations.

The CBK exercises broad supervisory powers, including the authority to inspect, enforce compliance, and impose sanctions. The regulatory environment has been tightened through recent amendments to banking and international banking acts to enhance operational independence and prevent shell banking.

While the International Financial Services Commission (IFSC) regulates corporate structures and specific non-resident financial services, the core payment and fintech licensing regime falls squarely under the CBK. Entities must obtain specific licenses to operate, with strict capital and fit-and-proper criteria applied.

Who regulates

  • Central Bank of Belize

    Primary supervisor for payment systems, domestic banks, and international banking; issues payment service provider licenses.

    [1][2][3]

  • International Financial Services Commission

    Regulates corporate registration, international limited liability companies, and specific non-resident financial services like international money lending.

    [4][5]

Core laws & rules

  • National Payment System Act (2023)

    Amended to mandate licensing/registration of payment service providers and agents, aligning with FATF recommendations.

    [2]

  • National Payment System Regulations (2024)

    Establishes comprehensive licensing, oversight, and operational framework for payment service providers and system operators.

    [1]

  • Domestic Banks and Financial Institutions Act (2023)

    Amended to tighten regulations on share acquisitions, mergers, and consolidate CBK supervisory powers.

    [6][7]

Licensing & registration

  • Payment Service Provider

    Mandatory licensing for entities conducting payment services or operating payment systems under the 2024 Regulations.

    [1]

  • International Banking

    Requires authorization for international banking business; shell banks are prohibited.

    [8][9]

Restrictions & warnings

  • Prohibition on licensing shell banks; strict caps on interest rates for moneylenders; mandatory CBK approval for share acquisitions exceeding 10%.

    [8][6]

Direction of travel

  • Regulatory framework is actively modernizing to meet FATF standards, with increased CBK operational independence and stricter oversight of payment systems.

    [2][7]

Sources

  1. National Payment System Regulations, 2024 · 2024-02-12
  2. National Payment System (Amendment) Act, 2023 · 2023-06-21
  3. National Payment System Act, Revised Edition 2020 · 2021-11-30
  4. Belize Companies Act, 2022 · 2022-07-28
  5. International Money Lending (Short Term and Unsecured Small Loans) Regulations 2008 · 2008-07-26
  6. Domestic Banks and Financial Institutions (Amendment) (No. 2) Act, 2023 · 2023-08-02
  7. Domestic Banks and Financial Institutions (Amendment) Act No. 20 of 2023 · 2023-06-21
  8. International Banking (Amendment) Act of 2023 · 2023-06-21
  9. International Banking Act of Belize, Revised Edition 2020 · 2021-11-30

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This guide is compiled automatically from 9 primary-source documents published by Belize's regulators, reviewed by RegAlert, and refreshed monthly (last updated 2026-07-12). It is not legal advice — always confirm requirements with the regulator or local counsel before acting.