Belize: Assessment of the Supervision and Regulation of the Financial Sector—Review of Financial Sector Regulation and Supervision

International Monetary Fund

No 2004/373, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper highlights key finding of the assessment of financial sector regulation and supervision in Belize. The assessment reveals that banking supervision in Belize complies with or is largely compliant with most of the Basel Core Principles. Under current arrangements, the Minister retains a good deal of discretionary authority with respect to banking supervision, but this situation is likely to be modified if a draft bill, now under discussion, becomes law. Retention of qualified staff is a continuous problem with the result that the intensity of banking supervision varies.

Keywords: ISCR; CR; fund Methodology; bank Management Contact; Belize IBCS; business company registry; company formation agent; return on equity; bank staff; financial system; Belize government; corporate governance; bank management; CFT regime; due diligence; law enforcement authorities; subsidiaries bank; mutual fund; Anti-money laundering and combating the financing of terrorism (AML/CFT); Insurance; Foreign banks; Insurance companies; Money laundering; Caribbean (search for similar items in EconPapers)
Pages: 57
Date: 2004-11-30
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