{"id":83636,"date":"2026-02-25T20:02:37","date_gmt":"2026-02-26T02:02:37","guid":{"rendered":"https:\/\/www.greaterbelize.com\/?p=83636"},"modified":"2026-02-25T20:03:12","modified_gmt":"2026-02-26T02:03:12","slug":"high-court-backs-sfxcu-management-shake-up","status":"publish","type":"post","link":"https:\/\/www.greaterbelize.com\/high-court-backs-sfxcu-management-shake-up\/","title":{"rendered":"High Court Backs SFXCU Management Shake-Up"},"content":{"rendered":"

The High Court has sided with the Central Bank of Belize, ruling that the dismissal of former Saint Francis Xavier Credit Union General Manager Rafael Dominguez<\/a> was lawful, fair, and well within the Registrar of Credit Unions\u2019 authority. The decision, delivered on February nineteenth, ends a two\u2011year dispute that began when investigators uncovered major administrative and operational failings at the Corozal\u2011based credit union.<\/p>\n

\"Rafael

\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0Rafael Dominguez<\/p><\/div>\n

Those findings triggered the appointment of an interim administrator in 2023 and, eventually, Dominguez\u2019s removal in May 2024. Dominguez challenged the move, calling it disproportionate and procedurally flawed, while also claiming more than eight hundred thousand dollars in severance and contract benefits. But the High Court didn\u2019t buy it. The judge ruled that the Registrar acted within the law, gave Dominguez a fair chance to respond, and provided adequate reasons for letting him go. Most of Dominguez\u2019s compensation claims were thrown out, though the court did say he\u2019s entitled to severance under SFXCU\u2019s internal rules. The Administrator must now recalculate that figure. The Central Bank says the ruling reinforces its mandate to safeguard the credit union sector and assures members that oversight and inspections will continue.<\/p>\n

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Attention readers: This online newscast is a direct transcript of our evening television broadcast. When speakers use Kriol, we have carefully rendered their words using a standard spelling system.<\/h6>\n

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Watch the full newscast here:<\/p>\n

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