The Bank of Jamaica, established by the Bank of Jamaica Law (1960), began operations in May 1961, terminating the Currency Board System which had been in existence from 1939. The establishment of the Central Bank was in recognition of the need for an appropriately regulated financial structure to encourage the development process, particularly as Jamaica was about to embark on the road to political independence.

CONEC Mobile Wallet is the ground-breaking solution that enables easy and secure financial transactions via your mobile phone or online, without the need for a bank account.

The innovative new service is brought to you by 'JA Mobile Payment Services Limited' (JaMobile), a subsidiary of the Jamaica Co-operative Credit Union League (JCCUL).

The "Tourism Enhancement Act, 2004," passed by Parliament in December 2004 and subsequently revised in October 2011, provided the legal basis for the establishment of a mechanism for the collection of a small fee from incoming airline and cruise passengers.

Specifically, the Act allows for:

• A Tourism Enhancement Fee of US$20.00 to be charged to incoming airline passengers and US$2.00 to be charged to cruise passengers.
• The monies collected are paid into a dedicated Tourism Enhancement Fund.

The Tourism Enhancement Fund (TEF) was established on May 1, 2005 for the sole purpose of implementing the recommendations emanating from the Master Plan for Sustainable Tourism Development, 2002.

Overview of the Jamaica Stock Exchange

The Jamaica Stock Exchange (“JSE”) is an august institution which was incorporated in 1968 and started operation in 1969. The JSE started its operation at the Bank of Jamaica (BOJ) building and moved to its present building situated at 40 Harbour Street in 1998. The JSE’s principal mandate is the mobilization of capital to facilitate the growth and development of companies and by extension the economy.

The JSE Group has evolved over time into a strong and reputable business.
There were four founding members:

• Mr. Willard Samms – Annett & Company Limited
• Mr. Raglan I. Golding – Capital Market Services (Ja) Ltd.
• Mr. Edward E. Gayle – Edward Gayle & Company Ltd.
• Mr. Anthony Lloyd – Pitfield Mckay Ross & Co Ltd.

The Development Bank of Jamaica Limited (DBJ) is a wholly owned Government institution and its only shareholder is the Accountant-General.

The Bank is a result of the merger of two national development entities, the Agricultural Credit Bank Limited and the National Development Bank, on April 1, 2000. The National Investment Bank of Jamaica Limited was further amalgamated into the DBJ in 2006.

The National Export-Import Bank of Jamaica (EXIM Bank) is Jamaica’s premier trade financing institution and the Caribbean’s first Export-Import Bank.  It plays a fundamental role in national development by providing a wide range of financing instruments at competitive interest rates for the country’s productive sector. It aims to assist in the growth of this sector and to contribute to the development of the wider national economy.

The Bank was established in May 1986 and has, over the years, made sure to honour its mandate of helping business ventures become viable and competitive in international markets.  Specific focus is placed on SME entities involved in non-traditional exports, such as Tourism, Manufacturing, Agro-processing, Mining, the Service Industry, Information Communication and Technology and the Creative Industries. EXIM Bank offers an impressive suite of financing products to these entities.