Bank reform: Finance Minister, Dr. Nigel Clarke, hints at new financial regulations.

 

Jamaica's Finance Minister, Dr. Nigel Clarke

 Dr. Nigel Clarke, Minister of Finance, has hinted in an online forum hosted on Twitter, that there will be new regulations coming that should protect the Jamaican consumers in the financial space.

Dr. Clarke said:

"The government of Jamaica will be tabling very shortly sweeping regulatory that provides consumer protection, and I'll probably say more about that later. With respect to fees and banking fees, one of the things that is happening in our society today but we're not, uh... we don't, we're not conscious of it as a society is a shift away from brick and mortar into electronic and digital realm, and what has been happening is that the sector that is at the forefront of that transition is actually the banking sector."

Dr. Clarke recently received scathing criticism from PNP Members of Parliament Fitz Jackson