President and Chief Executive Officer of Sagicor Group, Richard Byles, is urging the Government to consider implementing a reverse mortgage programme as an additional source of funds for retirees. He said it would enable retirees to borrow against their home's equity, while maintaining ownership of the property. Under this scheme, no repayment of the mortgage, principal or interest is required until...

On Sunday, December 18, 2016, Jamaica joins other member states of the United Nations in celebration of International Migrants Day, in recognition of the rights, efforts and invaluable contributions of migrants worldwide.  International Migration has been an integral part of the historical and contemporary experience of most Jamaicans. The new era of migration in the 21st century brings about its...

Jamaica is on track to meet the quantitative performance criteria and indicative targets under the new precautionary standby agreement with the International Monetary Fund (IMF). Co-Chair of the Economic Programme Oversight Committee (EPOC), Keith Duncan, gave assurance that with the positive macroeconomic indicators for the October review period, the country will likely meet the targets for December. “After reviewing the...

Co-Chair of the Economic Programme Oversight Committee (EPOC), Keith Duncan, is confident that the Government’s economic programme under the precautionary standby agreement with the International Monetary Fund (IMF) will be beneficial to ordinary Jamaicans. “What this means for ordinary Jamaicans is that growth is equal to more jobs, greater tax revenues, greater fiscal space... which is more money to spend...

The new Co-Chair of the Economic Programme Oversight Committee (EPOC), Keith Duncan, has hailed the move by the Government to reinstate the body to oversee implementation of the recently signed precautionary standby agreement (PSBA) with the International Monetary Fund (IMF). He noted that the committee is critical in ensuring that the public “has sight of the plan, understands the targets...

Lending institutions are being urged to place attention on the agricultural sector, so that it can continue to deliver growth and earn foreign exchange. Minister of Industry, Commerce, Agriculture and Fisheries, Hon. Karl Samuda, said financial institutions need to see agriculture as the “foundation” on which related industries can thrive. “It is within that sector we have the greatest potential...

The Senate has approved the Banking Services (Deposit Taking Institutions) (Agent Banking) Regulations of 2016, which was passed by the House of Representatives in November. The regulations will provide a framework that will allow some banking business to be undertaken through agents authorised by a Supervisory Committee. Education, Youth and Information Minister, Senator the Hon. Ruel Reid, piloted the regulations...