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No Open Banking

A Caribbean country on the northeastern coast of Central America.

According to Kepios, 47% of Belizeans had access to the internet at the beginning of 2022. Rural and remote communities face challenges in accessing affordable and high-speed internet, which impedes their ability to utilize ICT for their economic growth. Based on the Rural Significant Connectivity Index (ICS) and Significant Urban Connectivity (ICS), Belize belongs to the cluster with low significant connectivity, which means that there is a huge gap between urban connectivity and rural connectivity with populations that do not have access to connectivity services of sufficient quality.

80% of Belizeans had bank accounts in 2022 (p. 5).

According to Statista, there were around 120,000 digital payment users and 20,000 customers of personal financial services in Panama. 

Belize embarked on a National Financial Inclusion Strategy (NFIS) program in 2019 (p. 5). The aim of the program is to grow the share of adults who possess a bank account from 66% in 2019 to 80% of adults by 2022.

According to Tracxn, there are 77 Fintech startups in Belize City. The largest Fintech sector in Belize is digital payments.

Belize has introduced the National Digital Agenda, the aim of which is to close the digital skills gap and particularly bridge the gap between the rural and urban communities.