Bank of Jamaica (BOJ) Governor Richard Byles has moved to assure those with questions about the security of Jamaica’s financial system that it remains safe, sound, adequately capitalised and liquid.

He gave this assurance while speaking during the central bank’s recent quarterly monetary policy media briefing at the BOJ Auditorium in downtown Kingston.

“There has been an unusual amount of commentary in both the traditional and social media in recent weeks on issues relating to financial institutions. These commentaries have questioned developments at certain institutions and their implications for financial stability,” he noted.

Byles said that Jamaicans at home and overseas can rest assured that the BOJ continues to provide proactive oversight of the financial system and is always prepared to take the necessary actions to preserve its stability. 

The Bank of Jamaica, established by the Bank of Jamaica Law (1960), began operations in May 1961.
Its establishment was in recognition of the need for an appropriately regulated financial structure to encourage economic and financial development, particularly as Jamaica was about to achieve political independence.