There is much concern over the reported imminent end to the relationship with the Country’s largest bank, the Belize Bank Ltd and its partner Bank of America. Our colleagues at 7News reported that as of April 30th, the bank will no longer be able to do international banking transactions such as wire transfers to or from the United States. It may seem like some serious implications may occur but according to the report, more than 90 percent of the banks clients will not be affected. Additionally, it is not known if the relationship with Bank of America affected the closure of the Belize Bank Branch in the Corozal Free Zone. We have been reliably informed that at the moment the branch in the Free Zone is the only one closing and returning people’s money. The banks closure will be made official on May 1st of this year. We are told that the staff will be relocated to other branches with staffing needs such as San Pedro and Belmopan. The Free Zone Belize Bank Branch had a total staff of 6. Our attempts to get comment from CEO at the Banks Cooperate Headquarters and comment from the CEO of the Freezone David Ackerman were unsuccessful. We’ll keep pursuing this story in tomorrow’s newscast.
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