Caye International Bank in Belize, chaired by Joel Nagel, named best offshore bank in the Caribbean Community
Posted: Thursday January 6, 2022 4:17 PM CST.
Paid collaboration: Belizean institution, Caye International Bank, received a plethora of awards this year, making it one of the best in all of Latin America. The bank, which is headed by Chairman Joel Nagel and newly elected Chairman Luigi Wewege, received the awards due to consistently high levels of performance in everything to do with customer services as well as financial services and products.
The award series has been awarded by several major publications.
Magazine for international investors, an online publication that provides insight, insight and analysis on global markets and investment opportunities, named Caye International Bank the best offshore bank for CARICOM 2021. The magazine also named the bank’s newly elected president , Luigi Wewege, as Private Banker of the Year (CARICOM 2021). He reports that the awards represent the choices of its readers’ organizations that provide the investment community with better ways of doing business.
Global Banking and Finance Review wrote that Caye International Bank was the best private bank in Central America. The publication’s awards reflect innovation, achievement and strategic change within the global financial community. They recognize companies of all sizes that stand out in various areas of expertise in the financial world.
Pan Finance MagazineThe awards recognize organizations and individuals who have excelled in their respective fields. He ranked Caye International Bank as Private Bank of the Year for LATAM 2021, and he also named Luigi Wewege as Private Banker of the Year (LATAM 2021).
Finally, Corporate Vision Magazine named Caye International Bank the best international private banking provider of 2021.
Caye International Bank chairman, former Belize ambassador and lawyer Joel Nagel, explained why he believed the bank had received so many accolades among all those in Latin America. Nagel said: “Caye International Bank is well known for its excellent customer service as well as for its integrity and reliability. It is therefore not surprising that he continues to receive such awards year after year.
Michael K. Cobb, Director of Caye International Bank, said: “We are very proud of the level of service our bank provides, which is why it has been recognized as one of the best banks in all of Latin America. and central. “
Caye International Bank Chairman Luigi Wewege added: “The fact that we have received all of these awards from recognized global publications demonstrates the commitment and teamwork of the bank’s management and governance for growth. continuous and innovation.
The awards in 2021 follow on from Caye International Bank which has received other prestigious awards each year before.. Global finance magazine awarded the bank the title of Belize’s Best Private Bank in 2020 for the third year in a row. In 2019, Heritage and International Finance Ranked it as the best private offshore bank in Latin America and also named it the most outstanding offshore bank in Central America in 2018.
As the only international bank based on the island of Ambergris Caye, Caye International Bank plays a particularly important role in Belize’s economy, where tourism drives demand for new and existing businesses. The bank not only provides a place for offshore savings accounts, but also serves as a source of funds for investment in these local businesses and other opportunities that support the economy of the country as a whole. The bank finances businesses ranging from commercial mortgages to residential construction loans, enabling foreigners to help boost Belize’s economic growth.
Belize is a stable country with a growing economy that is increasingly known to be a good place for banking, especially compared to the United States, Canada or Europe. This is due to its zero tax rate on many personal and business accounts as well as its strict bank secrecy laws, which provide clients with increased confidentiality and confidentiality. Since the local currency is pegged to the United States dollar at a two-to-one rate, funds from customers banking in Belize are safe and unlikely to suffer currency devaluation.
In addition, Belize’s asset protection laws help ensure that funds held in the right structures are protected from lawsuits. The core reserve requirements of banks in Belize are also much higher than those in the United States, with Caye International Bank specifically having a liquidity ratio of 24%, making it one of the highest in the world for all banks. international.
In addition, the government of Belize has been particularly supportive of foreign investment, with incentives such as no restrictions on exchange controls for account balances. So people can deposit and withdraw funds at any time which cannot be said for other places.
Although Belize has felt the impact of COVID-19 in several sectors, including its economy, the country has fared rather well compared to others. In general, thanks to its culture and forward-thinking attitude, lawyer Joel Nagel said that Belize as a whole is poised to develop further in the field of offshore banking and investment because its laws continue to be refined to ensure that the country is at the forefront of best practice for offshore banking solutions.
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