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Central Bank denies “disrupting” activities of Atlantic International

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Posted: Thursday, March 28, 2019. 1:59 pm CST.

By Aaron Humes: The Central Bank of Belize says it has not tried to disrupt the operations of Atlantic International Bank Limited, which has been reported to be in some trouble this week.

 In a statement, the Bank writes that it “has received certain information and has initiated remedial actions to protect the interest of depositors and customers consistent with its statutory duties and responsibilities.”

Without going into details, the regulator assures that it has the matter under close assessment and will provide further update. The bank, meantime, says it is working on a statement of its own.

We understand that there has been what is known in banking as a “run” – depositors rushing to withdraw funds. In this case, it is primarily residents of San Pedro Town, Ambergris Caye.

Atlantic International continues to fight a civil matter in the United States related to the Sanctuary Belize real estate scam busted by the U.S. Federal Trade Commission, in which it denies wrongdoing.

 

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