The Central Bank of Barbados has seized the management and control of Zeemoney (Barbados) Limited to protect creditors. The action follows its assessment that Zeemoney is unlikely to meet its financial obligations and has not maintained high standards of financial probity or followed sound business practices. The powers of Zeemoney’s directors, officers and management are suspended and vested in the central bank and its authorized representatives. Zeemoney’s licensed business, including all money or value transmission services, remains suspended, and the central bank intends to seek a High Court order for its compulsory winding-up. Customers and other creditors should retain records supporting their accounts, transactions and claims. They should not make new payments to Zeemoney or follow payment or refund instructions unless expressly authorized by the central bank, which will provide further details on balance verification and claims submission as the resolution progresses.
2026-08-17Central Bank of Barbados
Central Bank of Barbados seizes control of Zeemoney and plans compulsory winding-up
The Central Bank of Barbados has seized control of Zeemoney after finding it unlikely to meet its obligations and citing concerns over financial probity and business practices. Zeemoney’s licensed activities remain suspended, and the central bank plans to seek its compulsory winding-up. Customers and creditors should retain their records and make no new payments without central bank authorization.