Belize clarifies moneylender annual fees cap at 144%
Central bank says it is striving to reduce overall fees, improve transparency and cut predatory lending
The Central Bank of Belize issued a notice on August 28 to clarify that its proposed amendments to the Moneylenders Act and Regulations would not permit the maximum interest charged by moneylenders to rise by 100 percentage points to 148%.
A social media post made by a local media company had claimed that the maximum interest charged on loans would rise from a current 48% to 148% a year, something the central bank described as a “gross misinterpretation of the facts” and something that “does not
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