Bank of Jamaica (BoJ) Governor, Brian Wynter, is encouraging consumers to aggressively shop around to identify financial institutions offering low interest rate loans. “We have the benefit, in Jamaica, of many entities (and) you have a choice (of) where you can borrow from. We have a tendency to look at just one (institution). I think that it’s a good time...

Finance and the Public Service Minister, Dr. the Hon. Nigel Clarke, continues to emphasise that the country’s macroeconomic achievements must translate into more meaningful gains for all Jamaicans. Speaking at the recent National Financial Inclusion Strategy (NFIS) forum, held at the Terra Nova All-Suite Hotel in St. Andrew, Dr. Clarke acknowledged that this translation is manifesting in several areas. These,...

Tax Administration Jamaica (TAJ) is implementing several strategies to increase property-tax collections. Speaking at the recent Local Governance conference in Montego Bay, Commissioner General at TAJ, Ainsley Powell, said a total of 17 programmes were developed and implemented covering registration, filing and payment compliance, audit, and taxpayer service and education. “Those are some of the key things that we’re trying...

Finance and the Public Service Minister, Dr. the Hon. Nigel Clarke, says the proposed Microcredit Act will be tabled in Parliament within the next 12 months. He noted that the legislation remains a high priority for the Administration, and aims to register and license microlending institutions that provide financing to micro, small and medium-sized enterprises (MSMEs). It also seeks to...

Cabinet-approved amendments to several laws governing Bank of Jamaica (BOJ) operations to make the entity more independent are expected to be tabled in Parliament in October. This was disclosed by Finance and the Public Service Minister, Dr. the Hon. Nigel Clarke, who said the proposed amendments relate to the Bank of Jamaica Act, Banking Services Act, and the Public Bodies...

Minister without Portfolio in the Ministry of Finance and the Public Service, Hon. Fayval Williams, says increased local demand for the United States (US) dollar over recent weeks, has resulted in further depreciation in value of the Jamaican dollar against the US currency. The Bank of Jamaica’s website indicates that the rate stood at J$133 for US$1 on Wednesday (July...

The Government has awarded two contracts valued at just under $356 million for the supply of equipment to the Portmore Information Parks in St. Catherine and the Montego Bay Terminal, St. James. This was disclosed by Minister of Education, Youth and Information, Senator the Hon. Ruel Reid, during a post-Cabinet Press briefing held on July 25 at Jamaica House. He...