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JM | Jan 24, 2023

Holness: ‘I have never borrowed from SSL’

/ Our Today

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Prime Minister Andrew Holness

Declaring that he has not done business with Stocks and Securities Ltd (SSL) since 2021, Prime Minister Andrew Holness has sought to make it clear that he has never borrowed funds from the investment company at the centre of a massive fraud scandal.

Holness, in a statement this afternoon, said that, following yesterday’s (January 23) Cabinet meeting, he has directed all ministers to check and disclose the status of any accounts or investment relationships their ministries or agencies may have with SSL.

SSL ACCOUNT CLOSED IN 2021

“The NHT [National Housing Trust] and the NHF [National Health Fund] have already made their release in keeping with this directive,” Holness said.

He added: “As I previously disclosed to the public in February 2016, I held an investment brokerage account with Stocks and Securities Limited. This account was opened in 2008 and has formed part of my statutory declarations since. In September 2021, I liquidated the last remaining financial instrument managed by SSL on my behalf and gave instructions for my account to be closed. I have no funds currently with SSL and I have not done any business with SSL since September 2021. I wish to also make it clear that neither I, nor any member of my family, have ever borrowed from SSL or received any form of credit facility from SSL.”

“I have no funds currently with SSL and I have not done any business with SSL since September 2021. I wish to also make it clear that neither I, nor any member of my family, have ever borrowed from SSL or received any form of credit facility from SSL.”

Prime Minister Andrew Holness

Holness said the current allegations of fraud at SSL and the international attention it has drawn to Jamaica’s financial sector “require a commitment to the highest level of transparency, probity and accountability”.

He added: “The public must be assured that the political class has no ‘conflict of interest’ that would prevent, delay or dilute efforts to ensure that the truth of the allegations is uncovered, those responsible are held to account and the victims receive justice.”

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