The Financial Services Commission (FSC) plans to restructure its operations, improve its supervisory capabilities, and facilitate the expansion of the financial markets. This, while ensuring the safety and soundness of regulated entities and greater consumer protection. The Commission will pursue several strategies to this end in fiscal year 2021/22, details of which are outlined in the Jamaica Public Bodies Estimates...

THE PUBLIC IS ADVISED that Bank of Jamaica has the sole authority to issue currency of the island of Jamaica, represented by notes and coins issued by Bank of Jamaica. Any purported issuance of currency of the island of Jamaica by a person or an entity other than Bank of Jamaica is unauthorised and in breach of the Bank of...

“The Jamaica Central Securities Depository Limited (JCSD) recognized the challenges listed companies and other companies face in hosting their Annual General Meetings (AGMs), Extraordinary General Meetings (EGM) and other events during this Pandemic, as the Government’s and the Ministry of Health & Wellness, to protect the population, have mandated no gathering and/or restrictions on the number of persons attending an...

On April 1, 20021, Bank of Jamaica (BOJ) met with representatives of financial holding company designates (FHC) and deposit taking institutions (DTIs) and agreed the following: Effective immediately, the boards of FHCs and DTIs can choose to resume the distributions of dividends to shareholders owning more than one per cent of issued shares which had been declared for their 2019...

On the occasion of its meeting on 30 March 2021 and on its review of financial system risks in 2020, the Financial System Stability Committee (“FSSC”) issued the following statement: “The Financial System Stability Committee (“FSSC”) has reviewed Bank of Jamaica’s (BOJ) 2020 Financial Stability Report (the Report).  The Report assesses developments in the macroeconomic environment, the financial system and...

Prime Minister, the Most Hon. Andrew Holness, has expressed high hopes that financing of the recovery of developing nations from the economic impact of the coronavirus (COVID-19) will be managed in a sustainable manner. “I am optimistic, based on what I am seeing [and] hearing in the international community,” Mr. Holness told leaders gathered at the virtual High-Level Meeting of...

Tax Administration Jamaica (TAJ) is advising all property owners that Property Tax payment for the 2021/2022 fiscal year, which remains unchanged, becomes due on April 1, 2021. The TAJ system has been updated to reflect the liabilities for the period and is now available for online payments. Persons will have until April 30, to make their payment without any penalty being applied, using a wider range of payment options instead of...