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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...

In response to several queries to our offices, the Inland Revenue Department (IRD) wishes to advise employers that monthly remittance of NHT contributions are NOT being collected at Tax Offices at this time, but should be made using the normal channels now available. The option of making payments for ALL monthly payroll contributions and deductions, including NHT payments, "inline" at...

Minister of Finance and the Public Service, Hon. Audley Shaw, is calling for greater inter-linkages within the Latin American and Caribbean region, in an effort to maximise areas of mutual benefit. Speaking at a forum of the Americas Society Council of the Americas (ASCOA), on December 2, at the Intercontinental Hotel in Miami, Mr. Shaw said he is optimistic in...

Minister of Finance and the Public Service, Hon. Audley Shaw, announced an increase in the tax on certain alcoholic beverages in the House of Representatives Tuesday (November 30). Mr. Shaw stated that a single specific Special Consumption Tax (SCT), based on the alcohol content at the rate of $960 per litre of pure alcohol, will be applied. This increase will...

Jamaica is to co-operate with Columbia in the exchange of financial intelligence, related to money laundering and terrorist financing, Minister with responsibility for Information, Telecommunications and Special Projects, Hon. Daryl Vaz, has disclosed. This follows Cabinet's approval of a Memorandum of Understanding (MoU) between the Financial Information and Analysis Unit of Colombia and the Government of Jamaica, through the Financial...

The Ministry of Finance and the Public Service has finalised a three-year contract with the Governor of the Bank of Jamaica (BoJ), Brian Wynter. Minister of Finance and the Public Service, Hon. Audley Shaw, made the disclosure in Parliament Tuesday (November 23) while answering questions from Opposition Spokesperson on Finance, Dr. Omar Davies. The Finance Minister noted that the monthly...

The Mission from the International Monetary Fund (IMF), which reviewed Jamaica's economic programme under the Stand-By Arrangement, has recommended that the Fund relax the primary surplus fiscal target for this year by 0.3 per cent of gross domestic product (GDP). At a press briefing on the country's performance for the quarter ending in September, held at the Ministry of Finance...

Governor of the Bank of Jamaica, Brian Wynter, is expected to meet with the heads of local commercial banks next week, to discuss the findings of an investigation into the charges being applied by these banks. The announcement was made by the Minister of Finance and the Public Service, Hon Audley Shaw, at a press conference at the Ministry, Friday...