In an era when digital transformation is no longer optional but essential, the Jamaica Business Development Corporation (JBDC) is paving the way for micro, small, and medium-sized enterprises (MSMEs) to thrive in the digital economy.  The agency has opened applications for MSMEs to participate in a training programme as part of ‘Digital Jamaica’, a European Union (EU)-funded initiative that was...

Users of automated banking machines (ABMs) will have a pivotal role to play in the process of compliance by deposit-taking institutions (DTIs) with the ABM Service-Level Standards recently introduced by the Bank of Jamaica (BOJ). The Standards, which were issued on April 2, are guidelines for the operation of ABMs by BOJ-regulated DTIs. The recently promulgated Standards address matters regarding...

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...

Several business leaders are expressing optimism about the economy, based on macroeconomic outturns, and the prospects for the calendar year and 2024/25 fiscal period. Notable among the outturns is a reduction in the debt-to-gross domestic product (GDP) ratio, which Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, has indicated, is on track to fall to 72...

The Jamaica Single Window for Trade (JSWIFT), the new and improved way of facilitating trade through Jamaica’s borders, continues to enhance Jamaica’s business and trade environment. This Government of Jamaica (GOJ) initiative, operated by the Jamaica Customs Agency (JCA), was developed to improve the ease of doing business and enhance the country's competitiveness, while bringing together various Border Regulatory Agencies...

There is positive public feedback to the Government’s announcement that come April 1, 2024, Students’ Loan Bureau (SLB) applicants will no longer require a guarantor to access tertiary financing. The policy change was announced by Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, during his 2024/25 Budget Debate presentation in the House of Representatives recently. The...

When persons hear the word audit, it is usually associated with the principles of maintaining order and standards. The Internal Audit Directorate (IAD), a unit of the Ministry of Finance and the Public Service knows all about these principles; however, there is more to the unit than meets the eye. Suzette Campbell is the Senior Director for the IAD, and...

The recent announcements by Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, as he opened the 2024/25 Budget Debate, have been well received by St. Thomas residents, who are excited about the upcoming changes, starting April 1. Dr. Clarke’s presentation addressed several hot-button issues and their subsequent reform, which are expected to positively impact the lives...