An important meeting happened on the sidelines of The Annual Meeting of the Boards of Governors of the Inter-American Development Bank and IDB Invest, held from the 16th to the 19th of March 2023 in Panama City, Republic of Panama. The Governor of the Central Bank of Belize, Kareem Michael, and the President of Caye International Bank, Luigi Wewege, convened.
In light of recent developments in the United States banking system, it is now more crucial than ever for banks and regulators to align their efforts to safeguard banking clients and the local economy at large.
Following their meeting on March 17th, 2023, in Panama, the Governor of the Central Bank of Belize and the President of Caye International Bank engaged in a brief discussion with Filippo Alario, the Chairman and Chief Executive Officer of Belize Bank.
The trio engaged in a comprehensive dialogue with the regulatory body overseeing Belize’s banking sector, given that they represent the largest domestic and international banks in Belize based on total deposit size.
After the meeting, Luigi Wewege said: “I am grateful for the solid support we have from other stakeholders in our region, including the government of Belize. It seems to me that we are all aligned around a common theme: which is to uphold the integrity of banking in our area. At Caye International Bank, we believe it is important for people around the world to know there are still countries they can trust with their banking affairs and that includes Belize.”
More about banking in Belize:
Belize’s banking sector is relatively small in comparison to Europe and North America with a handful of domestic and international banks operating in the country. The Central Bank of Belize is the country’s regulatory authority for banking and financial institutions.
Banks in Belize offer a range of services, including personal and business banking, lending, and foreign currency exchange. Some of the most prominent banks in Belize include domestic: Belize Bank, Atlantic Bank, Heritage Bank and globally focused: Caye International Bank.
International banks in Belize offer offshore banking services, including investment management and asset protection, to individuals and businesses seeking to establish financial accounts outside of their home country. The banking sector in Belize is considered stable, with a low level of non-performing loans and relatively high capital adequacy ratios. To safeguard the banking system against global shocks, The Central Bank of Belize continues to implement measures to ensure the stability and soundness of the banking sector.
