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 2.00 per cent per annum, effective 17 November 2021. Accompanying this rate increase, the Bank decided to maintain other measures to contain Jamaican dollar liquidity expansion. While not targeting any specific...

Chief Executive Officer (CEO) of the Real Estate Board, Sandra Garrick, is urging real estate professionals to utilise the guidance that the anti-money-laundering (AML) inspectors provide to ensure compliance with the law. She is also encouraging members of the industry to familiarise themselves with the completed AML Guidelines for Real Estate Professionals, which are intended to provide persons and companies...

Bank of Jamaica is aware that unscrupulous persons are circulating a fraudulent message that claims that the Bank is offering prize money, in the form of a cheque, for a mobile phone competition. Be advised that Bank of Jamaica is not involved in the award of prize money for any mobile phone competition. Anyone who can identify the source of...

Director General of the Planning Institute of Jamaica (PIOJ), Dr. Wayne Henry, says several valuable lessons have emerged from the coronavirus (COVID-19) pandemic that can potentially aid in bolstering stakeholder preparedness for similar and other future occurrences. Key among these, Dr. Henry said, are the importance of technology-enabled mechanisms, and information-sharing. He was speaking during a digital high-level forum on...

The Financial Services Commission (FSC) will stage its first ever Financial Forum on Monday, November 8 and November 15, 2021, on the JIS’s website, YouTube and Twitter pages, and on the Jamaica News Network (JNN) from 10:00 a.m. to 10:30 a.m. Director of Stakeholder Engagement, Communication and International Relations at the FSC, David Geddes, told JIS News that the forum...

The Jamaica Deposit Insurance Corporation (JDIC) now has a new website, which provides depositors, member institutions and the general public with easier access to information, while facilitating increased engagement with the agency. “The Corporation redesigned its website with the aim of providing our audience with a more modernised layout, which will undoubtedly enhance the experience and allow users to access...

The Government is seeking to ensure that wide-ranging legislative and product provisions being targeted for implementation and delivery under the proposed Microinsurance Bill redound to the benefit of all Jamaicans, especially the most vulnerable. Details of these and the overall policy framework were outlined by Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, during the Insurance...