Our CEO, Filippo Alario, was honored to participate as a panelist at the prestigious 2023 Belize Investment Summit. As the head of Belize’s largest financial institution, Mr. Alario had the privilege of sharing the stage with CEO Henry N. Anderson and Chairman Reynaldo Magana, engaging in insightful discussions surrounding investment opportunities and challenges within Belize.

During this forum, Mr. Alario also had the opportunity to shed light on Belize Bank’s pioneering efforts to revolutionize the banking industry, focusing on enhancing accessibility, efficiency, and innovation in financial services. These strides are exemplified through the successful implementation of various digital strategies, including the introduction of Belize’s premier digital wallet, E-kyash, and the launch of Belize’s inaugural fully digital online loan application platform.

We are excited to continue driving progress in Belize’s financial landscape.

May 19, 2023 – The Belize Bank Limited was welcomed into IDB Invest’s Trade Finance Facilitation Program with the signing of a $10M credit line agreement to boost trade among small and mid-sized businesses.

The signing ceremony took place on May 18th at IDB Invest’s office in Belize, with the participation of CID General Manager, Tomas Bermudez, Rocío Medina Bolívar, IDB Group Country Manager in Belize, Marisela Alvarenga, IDB Invest Division Chief for Financial Institutions, and Filippo Alario, BBL Executive Chairman.

Through this partnership, the Belize Bank looks forward to catering to the growing financial needs of SMEs and Business Banking clients, providing them with the ability to access financing to become more competitive in international markets which will ultimately contribute significant  growth to the Belizean economy.

Belize Bank Limited offers the full range of retail banking products to its clients through a wide branch network. The credit line will support BBL as it diversifies its network of correspondent banks to offer trade products to a wider range of SMEs and clients in Belize.

Financial systems in the Caribbean and other small economies have been affected by “de-risking” policies of international banks, and the high compliance costs of these large banks have left banks like BBL with limited access to trade finance and corresponding banking networks.

“This operation will contribute with the development of MSMEs allowing them to access the necessary funding to become competitive in the international markets. As we know, MSMEs are the backbone of the economy in Belize, providing employment to more than two thirds of the labor force,” said Rocío Medina Bolivar, the newly appointed IDB Country Representative for Belize.

IDB Invest’s Marisela Alvarenga said, “The incorporation of The Belize Bank Limited to IDB Invest’s Trade Finance Facilitation Program will increase investment and trade in the country, necessary for strengthening the financial systems across the Caribbean.”

Belize Bank Limited’s Filippo Alario said, “As Belize’s largest bank we are delighted to become part of IDB Invest TFFP Program’s network as Latin American and Caribbean Financial Intermediaries. Through this partnership, we look forward to promoting trade and contribute to our clients’ ability to become more competitive by accessing financing and grow their international business as well as to contribute to the growth of the Belizean economy.”

This partnership reinforces the commitment of IDB Invest and Belize Bank Limited to create a hub for investment and trade for the nation and the region while creating opportunities for communities. This deal is expected to contribute to two United Nations Sustainable Development Goals (SDGs): Decent Work and Economic Growth (SDG 8) and Reduced Inequalities (SDG 10).

About IDB Invest

IDB Invest, a member of the Inter-American Development Bank Group, is a multilateral development bank committed to promoting the economic development of its member countries in Latin America and the Caribbean through the private sector. IDB Invest finances sustainable companies and projects to achieve financial results and maximize economic, social, and environmental development in the region. With a portfolio of $15.3 billion in asset management and 375 clients in 25 countries, IDB Invest provides innovative financial solutions and advisory services that meet the needs of its clients in a variety of industries.

On February 15th, Chairman & CEO Mr. Filippo Alario was invited to speak on the derisking phenomenon in Belize at the 1st Annual Anti-Money Laundering AML/CFT Conference.

The conference was organized and supported through the National Anti-Money Laundering Committee (NAMLC), in partnership with the US Embassy’s international narcotics and law enforcement affairs unit and the University of Belize.

Learn more about the conference HERE.

BELIZE CITY, December 15, 2022 – Qorus, a global association for retail financial institutions, and Accenture (NYSE: ACN) announced the winners of the ninth annual Global  Qorus-Accenture Banking Innovation Awards during a live ceremony in Barcelona on December 1st.  E-kyash, powered by Belize Bank won the Silver Award for its submission in the Social, Sustainable & Responsible Banking category.

The awards serve as a catalyst for innovation in the banking sector by honoring the best ideas and practices transforming the industry for the benefit of banks and customers alike.

During the ceremony Executive Chairman Mr. Filippo Alario  stated, “We are proud to have E-kyash as one of our main Corporate Social Responsibility initiatives as we aim to reduce cash in circulation and bring modern financial services to Belize, who is very much ready to use state-of-the-art financial tools.”

This year the awards competition attracted more than 680 entries from 57 countries, with applicants ranging from agile start-ups to the world’s largest financial institutions. Winners were selected across eight categories through a peer-based voting process combined with a panel of judges from leading global financial firms. Criteria that judges considered included originality, strategic capacity to generate a long-term competitive edge and return on investment, and adaptability for use in other markets and countries. E-kyash was chosen among 170 projects from all over the World, only in this category.

E-kyash, Belize’s first digital wallet, is easy and convenient to use from any mobile phone.  This innovative solution removes barriers to financial access while increasing financial literacy, opening new opportunities and making life easier.  Users can top up their digital wallets from any of our Retail Operators located countrywide or via a Belize Bank account or other financial institution in Belize.  It can be used to make Peer-to-Peer transfers, Bill payments, Merchant Payments using QR Codes, Salary Payments, Payments for Government services.  The app features Geo Location and is available in both English and Spanish.  E-kyash users can soon look forward to purchasing electronic gift certificates, top up mobile phones, and conduct business to business transactions.

With E-kyash, the Belize Bank is fulfilling its Corporate Social Responsibility and promoting financial inclusion for all Belizeans.

The Belize Bank Limited is pleased to announce the appointment of Mr. Filippo Alario as Chairman and Chief Executive Officer.

Mr. Alario joined Belize Bank in 2009 as Deputy Chief Executive Officer and Chief Risk Officer responsible for the Bank’s Enterprise Risk Management framework, including strategy setting, governance and correspondent banking relationships.

Mr Alario started his career as an Associate Editor at Latin Finance, a Euromoney publication, transitioning into the Caribbean banking sector in 1994 where he held various executive management positions at leading international and regional financial institutions. He has a wealth of experience in the areas of Corporate and Investment Banking, Capital Markets, Risk Management, Strategic Planning and Compliance.
The Board of Directors, Management and Staff of The Belize Bank is pleased to now have Mr. Alario leading Belize Bank’s strategic direction and digital transformation.

On April 27th, 2022, Belize Bank’s head of Digital, Retail & Business Banking, Mrs. Agata Ruta, was invited as a panelist at the Women’s Financial Inclusion Workshop.  This workshop was sponsored by the Republic of China(Taiwan) and the Ministry of Foreign Affairs, Foreign Trade and Immigration as a part of a project entitled, “Enhancing the Economic Empowerment of Women in Latin America and the Caribbean in the COVID-19 Post Pandemic Era: Technical Assistance for Women’s Employment, Entrepreneurship and Financial Inclusion”.

The workshop aimed at building institutional capacity among Belizean Financial Service Providers by developing a basic understanding of both women’s empowerment and financial inclusion; outlining methodologies for designing and implementing WFI interventions and underscoring the importance of inclusive financial technology.

Mrs. Ruta highlighted The Belize Bank’s commitment to ensuring equitable access by women to the Bank’s financial products and services, in line with the Central’s Bank financial inclusion strategy.  This includes the convenient access to our electronic banking channels; Online and Mobile Banking, E-kyash, POS terminals, and our expansive network for ATMs which are strategically located to better serve our customers. Another example would be the recent development of the SME segment within the bank, which comprises a dedicated team who caters to the needs of  micro, small and medium sized businesses. The distinction of this market segment is very important to us in order to ensure that all our customer needs, including women, are met and they have equal access to specialized products and services.  Our SME officers are located in each district and are ready to help even if the business does not have financial statements readily available. 

Contact The Belize Bank today to learn more about all we have to offer.