HomeBreaking NewsBelize Tightens Rules for Moneylenders with New Bill

Belize Tightens Rules for Moneylenders with New Bill

Belize Tightens Rules for Moneylenders with New Bill

Belize Tightens Rules for Moneylenders with New Bill

The Government of Belize has introduced the Moneylenders (Amendment) Bill 2025, which builds on the existing Moneylenders Regulations of 2017 to tighten oversight and protect borrowers.

The bill requires anyone wishing to lend money to register as a company and have at least fifty thousand dollars in paid-up capital. Existing lenders have twelve months to comply or risk losing their licence.

The legislation also mandates clearer disclosures to customers before signing loan agreements and sets penalties of up to five thousand dollars per day for hidden or excessive fees.

Lenders with assets exceeding one million dollars must submit annual audited financials and shareholder details, with auditors rotating every seven years and meeting high professional standards.

Other changes include a new process for winding down money-lending businesses, removal of the fixed interest cap of 48% in favour of a “prescribed rate,” stronger enforcement powers for regulators, and a “maximum rate of interest, fees, and charges of 144% per annum or the corresponding rate in respect of any period.”

The bill will take effect once officially published by the Minister of Finance.

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