Money Transfer Service Providers Guidelines

The Central Bank of Belize is responsible for the approval, regulation and supervision of non-bank money transfer businesses operating in and from within Belize.

Money transfer agents and their affiliated sub-agents are required to institute proper internal systems, policies and controls to ensure that their transactions comply with all applicable laws of Belize. These laws include the Exchange Control Regulations and the Money Laundering and Terrorism (Prevention) Act and Regulations.

These guidelines outline the regulatory reporting and compliance requirements of money transfer businesses, their operating conditions, specific notes for anti-money laundering compliance and the level of delegated authority to approve transfers abroad. These guidelines should be used along with the Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) Guidelines for Banks, Financial Institutions, Credit Unions and Money Transfer Services Providers.