BOJ Launches ‘Common Cents’ Series to Boost Financial Literacy

The Bank of Jamaica (BOJ) has launched a televised series titled ‘COMMON CENTS WITH BOJ’, designed to increase financial literacy among Jamaicans.

The initiative was unveiled during the Quarterly Monetary Policy Report press conference, held at the BOJ auditorium in downtown Kingston on Tuesday (February 24).

Head of the Financial Inclusion Unit, Dr. André Murray, noted that the series will use clear language, relatable stories, and practical tips to help citizens navigate real-life financial decisions.

“They will seek to demystify many financial topics. We want to demystify them, really, in the way that Jamaicans actually think about these topics – speaking about issues of budgeting, savings, digital payments, credit management and, perhaps most importantly, we want to demystify some of the issues of consumer protection,” he shared.

Dr. Murray advised that Adtelligent advertising agency has been contracted to develop and execute the video production series.

“This collaboration has, so far, resulted in 10 infomercial videos, two promotional trailers and teaser graphics for social media. We’ll be launching videos weekly and we hope to make this a very engaging series of infomercials,” he said.

Commenting on the initiative, Governor, Richard Byles, reaffirmed that the BOJ remains steadfastly committed to its vision of ensuring that every Jamaican has access to safe, affordable, and convenient financial services.

He emphasised that this commitment extends to all citizens, regardless of socioeconomic background, income level, or geographical location.

Mr. Byles noted that since the Central Bank’s first financial inclusion campaign was launched in 2019, there has been a marked increase in small businesses engaging with formal financial institutions.

“There is also increased awareness of savings and credit options, as well as financial planning. Yet, despite these advances, a significant number of Jamaicans remain unbanked or entirely outside the formal financial system. This reality compels us to continue to act with urgency,” he stated.

The Governor informed that this phase of the financial inclusion campaign will be anchored on three critical pillars: access, education, and trust.

“Financial literacy must move from being an option to being essential. Jamaicans must not only have access to services; they should understand how to use them wisely. We will strengthen public education efforts to provide Jamaicans with information on how to manage debt, increase savings and invest for the future,” he said.

Mr. Byles acknowledged that true financial inclusion cannot be achieved without full confidence in the financial system.

To this end, he reaffirmed the BOJ’s commitment to maintaining a stable, secure, and well regulated financial system – one that protects consumers, upholds integrity, and fosters broad participation.