Bank of Jamaica’s (BOJ’s) recently introduced Automated Banking Machines (ABM) Service-Level Standards for deposit-taking institutions (DTIs), are consistent with the Government’s thrust to develop a robust and comprehensive market conduct and consumer protection framework for the financial sector. This framework will ensure that, in addition to prudential regulation of all financial institutions by one regulator, another will monitor the market...

Anticipation is high for Tuesday’s (April 23) start of the Ministry of Finance and the Public Service’s inaugural ‘Elevate Procurement Conference’, at the Montego Bay Convention Centre in St. James. The event will feature three days of exciting and engaging discussions and presentations by local and international experts, under the theme ‘Elevate: Innovate, Create’. Chief Procurement Policy Officer at the...

The Students’ Loan Bureau (SLB) plans to employ several initiatives to strengthen its customer engagement strategies for fiscal year 2024/25. These, the entity notes, include implementation of its loan management system by the first quarter of 2024/25, restructuring loans to facilitate lower monthly payments, and an expansion of product offerings to include certification and professional online programmes. This, according to...

The National Insurance Fund (NIF) plans to increase its net assets through the prudent management of the investment portfolio mix. As stated by the Ministry of Finance and the Public Service (MFPS) in the 2024/25 Jamaica Public Bodies’ Estimates of Revenue and Expenditure, the increase will be achieved through participation in opportunities that allow for the maximum growth potential and...

Tax Administration Jamaica (TAJ) has developed a technical advisory as part of the process of implementing the increased income tax threshold and pension and age exemptions announced by the Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, during his 2024/25 Budget Debate presentation in March. The first in a series of sensitisation sessions to discuss the...

The Government of Jamaica (GOJ), the Development Bank of Jamaica, the Green Climate Fund (GCF), Inter-American Development Bank (IDB), the World Bank Group, European Investment Bank as part of Team Europe, USAID, and the United Kingdom, are discussing a framework to establish a ‘Blue Green Facility’ –a blended financing structure–of up to USD 500 million over five years, which would...

Bank of Jamaica has taken note of the inflation outturn at March 2024 as released by the Statistical Institute of Jamaica (STATIN) on April 15, 2024. The 12-month point-to-point inflation (March 2023 to March 2024) was 5.6 per cent, which is within the Bank’s target range. The Bank welcomes the reduction in headline inflation, which was 0.6 percentage points lower...