Category: Top stories: Local

The government has agreed to reforms that will give the Bank of Jamaica (BOJ) oversight for the stability of the entire financial sector, a move that will transform the central bank into super regulator of the system.

A panel of academics and heads of private-sector organisations said Wed-nesday the Jamaican government must now shift to actual implementation of policies and move away from mere talk for the economy to grow.

Many of the financial books that I have read indicate that establishing a business can be a means of increasing your personal wealth. Whereas being frugal and saving consistently may eventually produce a significant nest egg over time, if you wish to fast-track your money growth, then business ownership might be your best route.

Earlier this week the Planning Institute of Jamaica (PIOJ) launched its Growth Inducement Strategy for Jamaica in the Short and Medium Term.

Professor Donald Harris of Stanford University is one of the architects behind the Planning Institute of Jamaica’s (PIOJ) Growth Inducement Strategy for Jamaica in the Short and Medium Term Plan which was launched earlier this week.

Based on the latest data available (December-2010) the total stock of debt stands at J$1.52 trillion or approximately 130 per cent of GDP (assuming nominal GDP by fiscal year end will grow by 8 per cent relative to FY2009/10).

Credit bureau operator Premier Credit headed by Lennox McLeod has now placed an application with the Bank Of Jamaica (BOJ) to acquire a licence to establish a credit bureau in Jamaica.

Jamaican lawmakers have approved changes to the Deposit Insurance Act that expand the scope for protection of depositors connected to trust accounts, and in circumstances where institutions merge.

Brian Wynter, governor of the Bank of Jamaica (BOJ), remains committed to holding a tight grip on monetary policy and bringing down interests rate even further, in the lead-up to the crafting of the next budget, he said Wednesday.