Minister Musa Says GOB’s Cannabis Bill Won’t Affect Belize’s Banking System – Love FM

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One of the main concerns expressed in the public sphere is that this new marijuana law will put the country’s banking system at risk. Former UDP Prime Minister Dean Barrow was the first to sound the alarm. Interior Minister Kareem Musa responded to the concerns.
Kareem Musa, Minister of Interior: “You want me to listen to the advice of a prime minister who hasn’t created a single new industry for this country in 13 years and you want me to take his advice? What I’m telling you with regard to these banking operations, with regard to the cannabis trade, it is done in Jamaica. They had the same issues as us regarding offshore banking regulations and they had to comply and change their regulations and now they are ok with correspondent banking. They have not seen any negative impact from their legal medical cannabis industry in Jamaica. Likewise, we are a Caribbean country. I have been assured that there will be no problem, but what we will have is a money industry like Jamaica, like America, like Canada. It was a money industry until the United States federal government passed the, now called, the More Banking Act, so when that passes you will see banks in Belize start accepting hemp dollars and cannabis.
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