Tax Administration Jamaica (TAJ) is advising the public that as at Friday, July 5, 2024, it is discontinuing the Electronic Funds Transfer (EFT) service via its online payment platform at jamaicatax.gov.jm. This means, that as of July 5, taxpayers will no longer be able to use the EFT option currently available on TAJ’s website to electronically transfer funds directly from...

Bank of Jamaica (the Bank) wishes to advise that effective 1 July 2024, it will no longer exchange coins of the Canadian Dollar (CAD), Great Britain Pound (GBP) and Euro (EUR) at its banking counter. As a part of its banking services offered to the public, the Bank facilitates the exchange of specified foreign currency banknotes and coins for Jamaica...

Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, says implementation of the Twin Peaks Model of Supervision and Regulation of the Financial Sector is expected by 2026. He informed that under the Model, the Bank of Jamaica (BOJ) will assume full responsibility for prudential supervision of all bank and non-bank financial institutions. Additionally, the Financial Services...

The Government has signed a US$20 million loan agreement with the World Bank for the Social Protection for Increased Resilience and Opportunities (SPIRO) Project. The SPIRO Project aims to increase Jamaica’s social protection coverage by establishing a national unemployment insurance programme and strengthening the social protection delivery system. In his remarks during Tuesday’s (June 11) SPIRO Visibility Ceremony at the...

Jamaica’s approach towards managing disaster risks has changed since Hurricane Ivan in 2004, says Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke. “The approach is no longer an ex-post approach where you wait on the disaster and then you cobble together the resources that you need. The approach today, decidedly, is one where we have layers...

Legislation to establish a National Natural Disaster Reserve Fund (NNDRF) was passed in the House of Representatives on Tuesday (June 4). The Bill, the Financial Administration and Audit (Amendment) (No. 3) Act, 2023, was piloted by Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke. He said the Bill, amongst other things, identifies the sources of funding...

The SCJ Holdings Limited (SCJH) is expected to complete the divestment of lands for housing, commercial and mixed use as well as light industrial blocks under the Greater Bernard Lodge Development Master Plan (GBLDMP) during fiscal year 2024/25. The entity will also be exploring and undertaking specific strategies to complete the establishment of an agricultural zone in the master plan....