Government in Talks with Belize Bank to Avoid Court Battle Over Fee Changes

The Briceno Administration is meeting with the Belize Bank in hopes of avoiding a court case over proposed changes to the bank’s fees. Last month, Belize Bank Limited was granted an injunction to temporarily prevent the Central Bank of Belize from implementing the financial amendments. The move would have regulated fees imposed by domestic banks for the use of certain services. The news was welcomed by many, but the bank is strongly rejecting the decision. According to Prime Minister John Briceno, the government is working with both parties to settle the issue outside of court. 

Hon. John Briceño, Prime Minister of Belize: “Well we have been meeting with both the Central Bank Governor and the Belize Bank, the officials from Belize Bank and we believe that there would be no need to go to court and that we can – to meet the objectives of the Central Bank and that’s what we’re working for.”

The Central Bank stated that the changes sought to address systems that don’t promote the fundamentals of financial inclusion for consumers.