Objectives of supervision

(1) The Central Bank shall be responsible for the general administration of this Act and the supervision of licensees, and shall have the powers and duties conferred on it by this Act and the Central Bank of Belize Act. CAP. 262. 31 (2) For the purposes of this Act, the primary objective of the Central Bank shall be to maintain confidence in and promote the safety and soundness of, the financial system in Belize. (3) Other objectives of the Central Bank, in respect of licensees are to– (a) promote prudent and fair banking and financial business practices; and (b) supervise licensees to determine whether they are in a sound financial condition.