PRESS RELEASE February 13, 2023

The University of Belize Launches the UB Institute of Banking and Finance

The University of Belize is pleased to launch and operationalize its third institute, the UB Institute of Banking and Finance (UB-IBF). For the first time, Belizeans will have the opportunity to do their AML and other finance certification courses and training at home making it more convenient and cost effective for participants. The institute will be able to assist financial organizations including banks, credit unions, insurance companies, real estate firms, among others that are required by law to ensure proper training programs are in place for their staff.

The UB IBF had already forged strong partnerships with other national institutions such as the Financial Intelligence Unit (FIU) and the Financial Services Commission. It is through these relationships that UB and the UB IBF have been invited to be a member of the National Anti Money Laundering Committee. Additionally, the FSC has provided financial support and has been instrumental in giving guidance and offering keen insights into Belize’s Financial Sector.

With the passing of the Securities Industry Act in 2021, an opportunity has been created for the development of a sophisticated financial ecosystem. The institute will be able to provide the training and development needed for the human capital which will operate in the financial sector. In addition, a gap exists for specialized training, research and expertise in the field of finance which the UB Institute of Banking and Finance will be able to serve.

The general aims of the institution are to:

· Provide AML and other compliance certification courses in the field of finance

· Foster the application of sound fundamental concepts and financial management tools.

· Apply financial management concepts and tools to the decisions faced by a manager in risk management and investment decisions.

· Appraise the risk profile of entities; including calculating the costs of capital, debt and equity using financial data.

· Examine the operations of capital markets: the equity, bond and the derivatives markets, along with the operations of the capital and securities industry.

· Assess the current developments in the international financial environment and the implications for our local financial entities.

The institute will be headed by a full time coordinator whose office will be located in the Gian Ghandi Building, at the Faculty of Management and Social Sciences (FMSS), West Landivar, Belize City. The UB is greatly appreciative of the support and resources provided to the UB IBF by the FIU and the Financial Services Commission in particular. END.

VITAL STATISTICS UNIT ATTORNEY

GENERAL’S MINISTRY Tel: (501) 223-5625/223-7405

Corner Queen Street and Barrack Road Belize City, Belize, Central America