The Montego Bay Revenue Service Centre (MBRSC) will have a new temporary home effective July 11, 2022, when relocated to the FCJ Building at 11-12 Almond Way, Montego Bay Freeport, Montego Bay, St. James. To facilitate the relocation exercise, Tax Administration Jamaica (TAJ) is advising that the MBRSC will be closed to the public on Wednesday, July 6 through to...

The Jamaica Social Investment Fund (JSIF) is providing grants of up to $100,000 to operators of microenterprises in targeted communities under its Integrated Community Development Project (ICDP II). Eligible individuals must be between 18 and 30 years old and from the communities of Salt Spring, Anchovy, Norwood, and Mount Salem in St. James; Treadlight in Clarendon; and August Town, Greenwich...

The Development Bank of Jamaica (DBJ) and Victoria Mutual Investments Limited (VMIL) have partnered to invest US$15 million in a new facility that will provide small and medium-sized enterprises (SMEs) with additional funding. The Jamaica Actus Small and Medium Enterprise Fund 1 (JASMEF 1) will target equity or quasi-equity support for SMEs. International management advisory and consulting firm Actus Partners,...

Bank of Jamaica (BOJ) announces its decision to increase the policy interest rate (the rate offered to deposit-taking institutions on overnight placements with BOJ) by 50 basis points to 5.50 per cent per annum, effective 30 June 2022. The Bank also decided to continue pursuing other measures to contain Jamaican dollar liquidity expansion and maintain relative stability in the foreign...

Minister of Finance and the Public Service, Dr. Hon. Nigel Clarke, says the Government has reached the threshold of Central Bank Digital Currency (CBDC) wallets (accounts) that are eligible for the $2,500 incentive. In March, the Minister announced that the first 100,000 Jamaicans establishing wallets after April 1, would receive the digital deposit from the Government. The incentive was to...

Bank of Jamaica (the Bank) is pleased to advise that the phased rollout of JAM-DEX has progressed with the amendments to the Bank of Jamaica Act (BOJA) 2020 now being passed into law on 14 June 2022. These amendments designate the Bank as the sole authority to issue Central Bank Digital  Currency (CBDC), JAM-DEX, which is now legal tender. With...

Exports to Jamaica’s top trading partners increased by 14 per cent to US$173.1 million for the first two months of 2022 compared to the corresponding period last year. These are the United States of America (USA), United Kingdom, Canada, Puerto Rico, and Finland. A report from the Statistical Institute of Jamaica (STATIN) indicated that the out-turn for January and February...