The Bank of Jamaica (BOJ) has commenced work to develop an enabling framework for the regulation of Payment Service Providers (PSPs). This is to facilitate the entities’ designation under the Proceeds of Crime Act (POCA), Deputy Governor in charge of Market Operations and Currency, Natalie Haynes, has said. She was speaking at a BOJ virtual press conference on Thursday (May...

Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, has announced that persons with disabilities who are having challenges accessing the benefits of the COVID Allocation of Resources for Employees (CARE) programme, will be given special consideration. Addressing the House of Representatives on April 28, the Minister said $40 million will be transferred to the Ministry of...

All transactions and procedures under the Government’s $10-billion COVID Allocation of Resources for Employees (CARE) Programme will be transparent and secure. This is being done through a rigorous verification exercise in which the Government has been engaged since Friday (April 24), and is in addition to other security measures in place. The CARE Programme aims to provide financial assistance to...

Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, says the first Supplementary Estimates for 2020/21 should be tabled in the House of Representatives within two weeks. “That supplementary budget will recast [projected] revenues in light of the [coronavirus] COVID-19 pandemic… it will involve a reallocation of expenditure to be consistent with the realities that we face...

Tax Administration Jamaica (TAJ) has taken a decision to suspend the collection of Property Tax and Certificate of Fitness Fees at the Kingston and St. Andrew Revenue Services Centres, effective Thursday, April 30, 2020. The suspension will be initially for one week and comes as TAJ moves to reduce the crowds at the two (2) corporate area offices. This means...

Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, says 350,000 of the 390,000 applicants already confirmed for compassionate grants under the Government’s COVID Allocation of Resources for Employees (CARE) programme can expect to receive payments “over the coming days”. He said that since April 24, when the Government commenced the processing and verification of applications, notifications...

Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, says the International Monetary Fund (IMF) has responded “favourably” to the Government’s request to access the institution’s Rapid Financing Instrument (RFI). This is part of the Administration’s measures to cushion Jamaica against the economic fallout being projected as a result of the coronavirus (COVID-19) pandemic. “I received a...