The Belize Deposit Guarantee Scheme (DGS) Administration is a financial safety net established to protect depositors’ funds in the event of a bank failure. It is a critical component of the country’s financial stability framework, ensuring confidence in the banking system by providing deposit insurance coverage to eligible depositors. Deposit insurance serves as a financial buffer in times of economic turbulence, safeguarding the savings of individuals and businesses and preventing panic-induced bank runs.
In Belize, the DGS Administration operates under the supervision of the Central Bank of Belize (CBB), which is the nation’s primary financial regulatory body. The CBB is responsible for setting the regulations and guidelines for the deposit guarantee scheme, while the DGS Administration is tasked with the day-to-day management and administration of the scheme. The administration functions in close coordination with the regulated financial institutions and ensures that the banks contribute to the deposit insurance fund, which is maintained to provide coverage for insured deposits.
The organizational structure of the Belize DGS Administration consists of a board of directors, which oversees the overall policy and management of the scheme. The board is composed of representatives from the CBB, the Ministry of Finance, and other key stakeholders in the financial sector. The executive management team, under the direction of the board, is responsible for implementing the policies and managing the operations of the DGS.
The contact information for the Belize DGS Administration is as follows:
Belize DGS Administration
Central Bank of Belize
P.O. Box 852
Belize City, Belize
Email: [email protected]