Notice to Banks: Suspension of Dividend Payments

18 Feb 2022

This Guidance Notice supersedes the Guidance Notice to Banks on the Suspension of Dividend Payments, 
issued by the Central Bank of Belize (Central Bank) on 19 April 2021. 

The Central Bank continues to closely monitor the effects of the COVID-19 pandemic on the financial 
system, to ensure that capital and liquidity levels are not compromised and to protect the availability of 
foreign currency. Towards this end, banks are hereby advised  that  the  temporary  suspension placed  on 
the  declaration  and  payment  of  cash  dividends,  repatriation  of  profits,  and  share  buy-backs  is  being 
extended until 30 April 2022. 

During this period, banks will continue to require the Central Bank’s prior notice before extending loans 
and advances to related parties and affiliates.  Banks are again encouraged to  review their management 
fee payment arrangements to mitigate their effects on profitability and equity levels.  During this period, 
each  bank  is  to  retain  all  profits  realized,  in  order  to  provide  adequate  capital  buffers  to  withstand 
deterioration in its financial position as a consequence of the pandemic crisis and other events. 

Your usual cooperation in this matter is appreciated.

Download PDF Guidance Notice