7 News Belize

Feinstein Group Tells Central Bank Governor To Appoint Independent Inspector Of ABL
posted (May 7, 2024)
Last night we showed you the latest exchange of allegations between the receiver for Stake Bank and the Feinstein Group.

Well, tonight, the Feinstein's are stepping it up. They want the governor of the Central Bank to, quote, "designate an independent inspector or team of inspectors…to conduct the ongoing investigation into Atlantic Bank Ltd. regarding alleged violations of Belize's banking regulations."

A release from the Feinstein group says that an impartial investigation is needed to investigate, quote, "the fact that the Central Bank of Belize initially authorized Atlantic Bank Ltd. to extend credit facilities amounting to $60 million Belize dollars to Stake Bank Enterprise Ltd."

The Feinstein's say they want to eliminate any, quote "perceived conflicts of interest, especially considering the past inclusion of the bank's managing director in the Prime Minister's official delegation during international visits-a privilege not extended to other banking executives."

They say that the government could end up showing favoritism towards the bank.

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7 News Belize