Belize; Assessment of the Supervision and Regulation of the Financial Sectorâ€”Review of Financial Sector Regulation and Supervision

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.

MoreLess

Year of publication:	2004-11-30
Institutions:	International Monetary Fund (IMF) ; International Monetary Fund
Subject:	Financial sector \| banking \| money laundering \| banking supervision \| law enforcement \| internal controls \| predicate offences \| consolidated supervision \| suspicious transactions \| financial crimes \| international standards \| financial intelligence unit \| prudential regulation \| law enforcement agencies \| supervisory authority \| financial supervision \| legal assistance \| financial crime \| supervisory arrangements \| internal control \| share information \| regulatory bodies \| supervisory agencies \| predicate offence \| suspicious transaction \| insurance business \| due diligence \| bank management \| beneficial ownership \| financial sector regulation \| regulatory authorities \| insurance supervisors \| banking system \| terrorist financing \| competent authorities \| supervisory authorities \| lawful purpose \| capital adequacy \| return on equity \| beneficial owners \| regulatory requirements \| international cooperation \| supervisory regime \| offshore banking \| foreign exchange \| cash transactions \| assessing compliance \| credit union \| criminal justice \| law enforcement officials \| banking sector \| criminal law enforcement \| criminal law \| transaction reports \| unusual transactions \| financial service providers \| customer identification \| bank act \| cross border movements \| financial regulation \| due diligence requirements \| bank data \| banker \| adequate powers \| suspicious transaction report \| law enforcement authorities \| enforcement authorities \| accounting standards \| licensing process \| supervisory standards \| prudential supervision \| enforcement powers \| business relations \| internal audit \| legal entities \| market integrity \| assessment mission \| suspicious transaction reports \| life insurance \| offshore banks \| alternative remittance \| value transfer system \| banking business \| fictitious names \| supervisory process \| bank examiners \| transaction records \| deposit insurance \| criminal activities \| asset forfeiture fund \| loan classification \| combat money laundering \| insurance intermediaries \| adequate screening procedures \| reinsurance companies \| banking license \| shell banks \| deposit insurance scheme \| money laundering requirements \| money laundering laws \| banking laws \| criminal justice measures \| monetary instruments \| criminal sanctions \| account files \| bankers \| financial activity \| commercial borrowing \| holding company \| banking channels \| bank records \| bank accounting \| currency transactions \| banking information \| bank staff \| anonymous accounts \| return on assets \| banking regulators \| reporting requirements \| share capital \| criminal laws \| financial claims \| banking industry \| trust service providers \| international accounting standards \| licensing requirements \| financial investigations \| risk profile \| criminal record \| judicial authorities \| confiscation of property \| mutual evaluation \| judicial authority \| problem bank \| supervisory regimes \| supervisory bodies \| money laundering offence \| intelligence units \| banking supervisor \| investigative agencies \| confiscated property \| foreign branches \| criminal investigations \| bank structures \| prudentially regulated sectors \| bank holding \| terrorism standards \| anti money laundering program \| bank holding company \| transaction reporting \| terrorist assets \| anti money laundering \| financial sector supervision \| external auditor \| value transfer \| organized crime \| money laundering issues \| suspicious transaction reporting \| banking legislation \| connected lending \| mortgage lending \| financial intelligence units \| asset freezing \| information exchange \| money launderers

More details

Extent:	application/pdf
Series:	IMF Staff Country Reports.
Type of publication:	Book / Working Paper
Notes:	The text is part of a series IMF Staff Country Reports Number 04/373 5 pages long
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005768472