Minister of Finance and the Public Service, Hon. Fayval Williams, says auditors will be using more artificial intelligence (AI) tools to carry out their duties. “The Government will accelerate its deployment of technology in auditing by leveraging artificial intelligence (AI) to improve efficiency, accuracy and insights into the organisational, financial and operational landscape,” Mrs. Williams said. She was speaking during...

Based on the Tropical Storm Warning in effect for Jamaica and other information provided by the Meteorological Service about the expected deterioration in weather conditions associated with the tropical system near the island, Bank of Jamaica (BOJ) advises that its Teller services to the public will be suspended on Tuesday, November 5 until further notice. Bank of Jamaica will activate...

Minister of Education, Skills, Youth and Information, Senator Dr. the Hon. Dana Morris Dixon, says the Government is committed to strengthening the country’s financial regulatory framework to safeguard citizen’s interests and ensure full compliance with global standards. “Financial regulation is not merely technical, it is at its core, a commitment to safeguarding the hard-earned monies of ordinary Jamaicans,” she said,...

Business leaders are expressing confidence in the ability of newly appointed Minister of Finance and the Public Service, Hon. Fayval Williams, to manage Jamaica’s macroeconomic affairs. Stakeholders from the Private Sector Organisation of Jamaica (PSOJ), Jamaica Manufacturers and Exporters Association (JMEA), and the Micro, Small and Medium-Sized Enterprise (MSME) Alliance concur that Minister Williams has the requisite qualifications and experience...

Jamaica’s import expenditure for the first six months of 2024, between January and June, totalled US$3.68 billion. This represents a 1.5 per cent decline over the US$3.74-billion spend for the corresponding period in 2023. The Statistical Institute of Jamaica (STATIN) indicated in a bulletin on Wednesday (October 30) that the decrease was largely attributable to lower imports of ‘Raw Materials/Intermediate...

Tax Administration Jamaica (TAJ) is advising that disbursements have been made to the first 74,749 of the now 272,041 Jamaicans, who have applied successfully to receive the $20,000 Reverse Income Tax Credit (RITC). The payments being made relate to the following financial institution and remittance services that are fully configured to receive payments:  JN Bank  JN Money Services...

The Financial Investigations Division (FID) is ramping up its effort to combat financial crimes as it seeks to fill 117 new positions. The FID is a department of Government and is the only law-enforcement body within the Ministry of Finance and the Public Service. Speaking recently with JIS News, Brand Communications Specialist at the FID, Garth Williams, indicated that the...