In Belize the classification of banks and insurance companies as either “domestic” or “international” is based on the type of business they are authorized to do, not the residency of their owners. Domestic banks are authorized to deal with domestic residents, and in local currency. International banks are authorized to deal with non-residents, exclusively in foreign currency.
This IAIS core principles assessment was prepared by Mr. Martin Roberts (Consultant, Insurance, MFD).
The team consisted of John Abbott (Mission Chief, IMF/MFD), Joseph Courtright (MFD banking supervision consultant, formerly with OSFI, Canada); Peter Kruschel (BCPs, BaFin, Germany); Martin Roberts (MFD, insurance consultant, formerly with FSAS, U.K.); Ms. Joy K. Smallwood (IMF/LEG); Russell Ursula ((responsible for the criminal justice elements of the methodology, CFATF); and Richard Walker (responsible for the supervisory/preventive measures sections of the methodology, Guernsey Financial Services Commission). The roster of experts for the IAE is based on the names of competent persons identified by the FATF, FSRBs, the United Nations, and the Egmont Group.