Banking in Belize

by Admin on March 8, 2010

The banks in Belize are becoming an offshore hub for international banking. The banks are very stable with the backing of the Belize National Reserve which requires a mandatory 24% cash reserve for each banking member. This is the highest cash reserve requirments of any banking system in the world. Because of this, the Belize banks were not highly leveraged like the U.S. and U.K. banks were in 2009. Lending is a more expensive in Belize versus the U.S., U.K., and Canada. Interests rates are approximately 10% to 11% and require downpayments between 30% and 50%. Because the banks lend out at higher interest rates, they are able to pay returns of up to 3% on U.S. dollar deposited saving accounts. Yes....that's up to 3% on U.S. dollar deposited savings accounts! We recommend visiting a couple of Belize banks' websites to educate yourself further: Atlantic Bank Caye Bank Belize Bank Scotia Bank

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