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The Central Bank of Barbados has seized management and control of Zeemoney (Barbados) Limited, citing concerns over the company’s financial position and business practices.
The action took effect today under Section 59 of the Financial Institutions Act, Cap. 324A.
According to a notice issued by the Central Bank, the move was taken to protect Zeemoney’s creditors, amid concerns that the company is unlikely to meet its financial obligations.
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