Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, says stakeholder feedback on the Credit Union Special Provisions Bill will be incorporated in the proposed legislation, which he anticipates will be implemented during the next Parliamentary term. He says the Bill, now being reviewed by stakeholders, aims to bring the credit union movement under the Bank of...

Total assets at the Bank of Jamaica (BOJ) amounted to $694.6 billion at the end of last year. As stated in the Planning Institute of Jamaica (PIOJ) 2019 Economic and Social Survey, the sum represents a nominal seven per cent increase over the previous year. The document indicates that foreign assets grew by 7.1 per cent to $481.2 billion, while...

A total of 203,500 of the country’s most vulnerable students will benefit from back-to-school grants amounting to $1.6 billion, being provided by the Government. This was announced by Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, who noted that most of the money – $1 billion – will be provided under the COVID Allocation of Resources...

The We CARE Programme was designed with a formal verification review by the Auditor General’s Department (AGD) prior to payments being made to beneficiaries. Given that the programme involves several billions of dollars of economic and social support, and given the speed of the programme design and roll out, in the interest of transparency and good governance the extra step...

Amid the challenges being experienced with the current pandemic, Jamaica, through the Ministry of Finance and the Public Service (MoFPS) is becoming a leader in the global conversations to ensure that climate change is at the forefront of the economic recovery. Jamaica announced its official membership to the Coalition of Finance Ministers for Climate Action a year ago, which currently...

The Jamaica Stock Exchange (JSE) US$910,000 three-year ‘Innovating Social Sector Financing’ project, which is designed to develop a platform for social enterprises seeking funding to execute their engagements, was officially launched on Tuesday (August 4) at The Jamaica Pegasus hotel in New Kingston. Some 150 social service groups islandwide, including churches, foundations, non-governmental organisations and social enterprises, many of which...

Tax Administration Jamaica (TAJ) in keeping with its 2020/21 National Compliance Plan to improve compliance, has collaborated with a number of public and private sector entities as it concerns the provision of third party information pursuant to the Revenue Administration Act (RAA). The RAA has facilitated the delivery of information on third party business transactions, in ascertaining both the source...