BIFSA Endorses G.O.B.’s Initiative to Modernize Companies Act & Online Business Registry

The Belize International Financial Services Association, BIFSA, says it supports government’s initiative to modernize the Companies Act and the Online Business Registry System. BIFSA states in a press release that based on an Economic Impact Assessment report which it commissioned, the financial services industry contributes at least twenty-five million US dollars in foreign currency, or one point three percent of G.D.P. in annual economic benefits, to the country. The association’s release continues by stating that the amalgamation and modernization of the Companies Act and International Business Companies Act furthers Belize’s commitment to transparency on the global platform to promote good business. BIFSA also believes that this merging of the two Acts positions the Financial Services Industry for new development.