Interim Injunction Granted to Belize Bank Against Central Bank

An interim injunction barring the Central Bank of Belize from enforcing what is known as Practice Direction Number Seven of 2023, has been ordered by High Court Justice Nadine Nabie.  This morning, Senior Counsel Godfrey Smith and attorney Hector Guerra appeared on behalf of the Belize Bank Limited where a claim has been filed against the financial regulator.  Practice Direction Number Seven seeks to restrict fees and charges in the domestic banking sector as issued by the Central Bank of Belize and any attendant penalties should the applicant’s fail to comply with its terms.  The hearing for Belize Bank’s application for judicial review is set for February twelfth, 2024.  The Central Bank of Belize is represented by attorney Yohhahnseh Cave.