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Mar 15, 2023

Is SFXCU Being Held Ransom by Central Bank?

Rafael Dominguez Sr.

According to Dominguez Senior, the management of Saint Francis Xavier is being held captive by the Central Bank of Belize.


Rafael Dominguez Sr., General Manger, SFXCU

“We have come to this situation whereby we felt that we have been held at ransom by the Central Bank with this imposing of the administrator of what happened last Friday, knowing the fact that there would have been a press conference in Belize City and at the same time we were being served with these letters that we were suspended and no longer have any powers or any duties to do at the credit union.  We can further explain what exactly happened, like when you see a movie and they hijack a plane, that’s the same way and I am very concerned about that because I know that we have employees that up to today the way how people just came in pushing and kicking out the security officers from the credit union and serving letters to some ten employees [and placed] under suspension immediately without any cause, without any purposes and threatening the credit union staff that they should not be speaking to any one of us pertaining to the different committees and the general manager.”

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