The Financial Services Commission (FSC) of Belize was recently honored with the Innovation (Commendation) Award at the 2025 Corporate Registers Forum (CRF), held in Tunis, Tunisia, in October 2025, recognizing the country’s Secured Transaction and Collateral Registry (STCR) as one of the world’s most forward-thinking digital transformation initiatives.
The Corporate Registers Forum (CRF) is a global association that brings together registry authorities from more than 60 jurisdictions to promote innovation and best practices in business and public-sector registries. Receiving recognition from the CRF is a significant honor – it highlights Belize’s achievement as being among the best examples of effective and impactful public-sector modernization worldwide.
Developed in partnership with NRD Companies, the project represents far more than a technology upgrade – it symbolizes a nationwide commitment to rethinking how public services are delivered, managed, and sustained.
Since the end of 2024, the registry has already recorded more than 1,200 security notices[1], enabling businesses and individuals to use movable assets as collateral for loans. This reform is transforming access to finance, promoting entrepreneurship, and strengthening the country’s economic resilience.
Beyond Technology: A Story of People and Change
Belize’s success offers a vital lesson for all governments pursuing digital transformation – technology alone does not guarantee progress. True transformation requires leadership, trust, and effective change management.
From the Financial Services Commission (FSC) to the Belize Companies and Corporate Affairs Registry (BCCAR), and across ministries and agencies, the country has embraced digitalization as a national mission. By prioritizing capacity building, stakeholder engagement, and institutional learning, Belize ensured that its reforms were not just implemented – they were understood, owned, and sustained by the people who make them work every day.
This approach – empowering teams, fostering accountability, and investing in human capital – is what turns digital projects into lasting national achievements. It’s a reminder that successful digital transformation starts with people, not platforms.
A Broader Digital Success Story
The recognition of the Secured Transaction and Collateral Registry follows another milestone – the Online Business Registry System (OBRS), which earned the WSIS Champion 2023 Award for revolutionizing business registration and transparency in Belize.
Building on this success, in July 2025, the Financial Services Commission (FSC) of Belize proudly announced that the Belize Companies and Corporate Affairs Registry’s (BCCAR) Online Business Registry System (OBRS) once again achieved international acclaim, earning a WSIS Prize 2025 Champion Award at the World Summit on the Information Society (WSIS) in Geneva, Switzerland.
The OBRS was recognized under the E-Business category for its continued use of ICT to promote inclusive, transparent, and sustainable development. This second consecutive WSIS win represents not only a prestigious honor, but also a powerful validation of the system’s transformative impact.
Since its launch in November 2022, the platform has modernized business registration by dramatically reducing turnaround times, providing 24/7 access to services, and eliminating unnecessary bureaucracy. The system has enhanced transparency, strengthened data integrity, and empowered a new generation of entrepreneurs, while also building confidence among investors and policymakers.
The repeat recognition firmly positions Belize as a regional leader in e-governance and digital reform, highlighting how small developing nations can successfully harness technology to modernize institutions, foster economic opportunity, and build more resilient economies.
Together, these and other initiatives – in areas such as tax administration, ICT modernization, and service delivery – form a cohesive digital ecosystem that is improving how citizens, businesses, and institutions interact.
From business registration to financial services, from data infrastructure to governance systems, Belize is demonstrating how well-managed change processes, combined with clear strategy and inclusive collaboration, can transform an entire public sector.
A Model for Every Government Institution
Belize’s journey shows that every digital transformation – whether in finance, taxation, ICT, or public administration – must be rooted in people and process.
By investing in:
- Visionary leadership and transparent governance,
- Comprehensive legal and institutional frameworks,
- Structured change management, and
- Empowering teams to adapt and grow,
Belize has built not only new systems but a new culture of innovation across government.
This holistic approach is what leads to international recognition, citizen trust, and sustainable progress – making Belize and the Financial Service Commission of Belize a true global example of what digital transformation should look like.
At NRD Companies is proud to have partnered with FCS Belize on this transformative journey – helping the country turn vision into impact, and technology into meaningful, lasting change.
About The Financial Services Commission of Belize
The Financial Services Commission of Belize is the primary regulatory body overseeing non-bank financial services, including securities and capital markets. Its mission is to ensure a robust, fair, and transparent financial system in Belize while protecting Belizean investors and supporting the growth of the Belizean capital markets.
More information: www.belizefsc.org.bz
About The Belize Companies and Corporate Affairs Registry
The Belize Companies and Corporate Affairs Registry serves as the central authority responsible for the registration and regulation of business entities in Belize. Operating under the Belize Companies and Corporate Affairs Registry Act, it maintains the official records of companies, business names, limited liability partnerships, international foundations, and other legal entities operating within the country.
More Information: www.bccar.bz
[1] https://www.belizefsc.org.bz/belize-honored-with-prestigious-innovation-commendation-award-for-its-secured-transaction-and-collateral-registry-at-the-2025-corporate-registers-forum/
