The Central Bank of Barbados has suspended the licence of Zeemoney (Barbados) Limited, effective from 5 May 2026 to 4 June 2026. During that period, the firm is prohibited from conducting any money or value transmission service provider business. The Bank said the action follows a supervisory review and subsequent developments that materially deepened its concerns about the institution’s financial condition, governance, operational continuity and regulatory compliance. Zeemoney has been directed to remediate all identified deficiencies within a specified timeline under Section 50 (1)(a) of the Financial Institutions Act, Cap. 324A. Failure to do so may lead to further supervisory action. Customers with questions about existing transactions or access to funds were told to contact Zeemoney through its established customer service channels, while the Bank will continue to monitor the institution during the suspension period.
Central Bank of Barbados 2026-05-05
Central Bank of Barbados suspends Zeemoney Barbados Limited licence from 5 May to 4 June 2026 after supervisory concerns deepen
The Central Bank of Barbados has suspended the licence of Zeemoney (Barbados) Limited from 5 May 2026 to 4 June 2026, prohibiting it from conducting any money or value transmission service provider business. The action follows a supervisory review and developments that heightened concerns over the firm’s financial condition, governance, operational continuity and compliance, and Zeemoney has been directed to remediate all deficiencies under Section 50(1)(a) of the Financial Institutions Act, Cap. 324A or face further supervisory action.