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Minister of Finance and the Public Service, Hon. Audley Shaw, says changes to the Deposit Insurance Act will create the basis for enhanced depositor entitlements, and improved operational efficiencies in the Deposit Insurance Scheme “Clause 3 (Section 5), which outlines the functions of the Jamaica Deposit Insurance Corporation (JDIC), is now being amended to allow the Corporation to make loans...

Minister of Industry, Investment and Commerce, Hon. Karl Samuda, has indicated the possibility of legislation being promulgated, to ensure that commercial banks provide customers with adequate information on their services. "There is no point in saying that you need to do this, but there is no enforcement of that provision to protect the consumer," he said at a press conference...

The Tax Administration is reminding Employers and self employed persons that Friday, January 14, 2011 is the due date to file Employer's Annual Return PAYE (Income Tax) and Education Tax Annual Returns for the year of assessment 2010. Persons are being encouraged to use the Tax Administration's convenient online option to file these returns and pay the relevant amounts. To...

Minister of Finance and The Public Service The Hon. Audley Shaw conducted high-level discussions this morning with Export-Import Bank of China Executive Vice Governor Mr. Zhu Hongjie on his first visit to Jamaica. The talks centred on the implementation of various projects being financed by the Bank in Jamaica, as well as on other areas of mutual cooperation. The Export-Import...

The final drawdown of US$200 million from the US$630.00 million loan, described as one of the largest loans disbursed by the Inter-American Development Bank (IDB), was signed Wednesday (December 15) in Washington D.C., between the Government of Jamaica and the IDB. The loan, which pertains to the GOJ fiscal consolidation programme, was signed by Minister of Finance and the Public...

Finance and Public Service Minister, Hon. Audley Shaw, said that in addition to enhancing revenue, the Government's decision to revise the tax regime for alcoholic beverages aims to address the possible social consequences from the increased consumption of hard liquor, especially among young people. Speaking at the Management Institute for National Development's (MIND) 11th graduation ceremony at the institution's Old...

Finance and Public Minister, Hon. Audley Shaw, says prevailing economic developments impacting Jamaica, and the Government's response to these, should serve to sharpen the focus of civil servants on the need for enhanced efficiency and productivity within the public service. This is important, he contends, in a bid to ensure that Jamaica is positioned to attain economic growth and prosperity,...

Minister of Finance and the Public Service, Hon. Audley Shaw, says the application of cutting edge technology, such as mobile banking, is a necessity if Jamaica is to compete satisfactorily in the global environment. "Electronic commerce, electronic transactions and increasingly, mobile banking, are no longer new-wave buzz words, but they are today's reality," Mr. Shaw argued. "These technologies are changing...

Minister of Finance and the Public Service, Hon. Audley Shaw, has said that there must be a sustained focus on primary education, so that the youth can get a good start in their education development. "In too many areas we have fallen down in our standards, and we are in desperate need of greater emphasis on primary education. We have...

Permanent Secretary in the Ministry of Industry, Investment and Commerce, Reginald Budhan, says the principle of universal access should be adopted by banking institutions, to ensure that customers get the best service and rates possible. Mr. Budhan said the Ministry was receiving daily complaints about the difficulty in opening bank accounts, which was worse in the case of businesses. "The...

The potential economic impact that mobile banking could have on poverty alleviation, rural development and micro financing in Jamaica, will be among the key areas up for discussion at the Mobile Financial Services Conference 2010. The one-day conference, which will be held at the Terra Nova hotel in Kingston on Friday, December 10, promises to provide a comprehensive exploration of...

The potential economic impact that mobile banking could have on poverty alleviation, rural development and micro financing in Jamaica, will be among the key areas up for discussion at the Mobile Financial Services Conference 2010. The one-day conference, which will be held at the Terra Nova hotel in Kingston on Friday, December 10, promises to provide a comprehensive exploration of...