DATA from the Financial Services Commission (FSC) indicate that the total assets of the private pension plan industry as of September 30, 2020 stood at $639.29 billion. Thirty-seven per cent of this $639.29 billion is invested in “pooled investment arrangements” (that is, mutual funds or unit trusts). This is the
Jamaica's pension industry is already projecting foreign exchange (FX) gains from the recent move by the Bank of Jamaica's (BOJ) to increase the allowable limit on investment in foreign exchange instruments from 7.5 per cent to 10 per cent. The increase in the FX cap comes into effect April 1,
After quietly exploring the viability of a central bank digital currency (CBDC) for some time, Bank of Jamaica (BOJ) took the decision in May 2020, as a part of our ongoing retail payments reform, to venture into this digital innovation that is fast becoming a feature of global central banks.
Lottery Supreme Ventures Limited, SVL, through its newly formed financial services subsidiary Supreme Ventures Fintech Limited, is now rolling out its first microcredit product, a loan aimed at its 1,300 retail agents. Starting with a $500,000... https://jamaica-gleaner.com/article/business/20210321/supreme-ventures-fintech-brings-first-microloan-market
If they are following the law, interpreted as most people believe it should be, a committee of both Houses of Parliament should soon start reviewing the act under which public servants are required to contribute five per cent to their pension. That contribution was to be phased in over two
The COVID-19 crisis has had a strong impact on the income situation of the most vulnerable, the poor. However, insurance against the most important risks, including health, remains scarcely available globally. How insurance will develop in the post-COVID-19 era, and how increased availability of affordable risk management can create
DETROIT, United States (AP) — It's a question occupying the minds of millions of employees who have worked from home the past year: Will they still be allowed to work remotely — at least some days — once the pandemic has faded? One of America's corporate titans, Ford Motor Co,
In the second part of this series we explain the critical differences between blockchain and cryptocurrencies. Blockchain is an extremely secure, immutable and almost incorruptible robust distributed ledger that records virtually any value transaction. Believe it or not, blockchain started life back in the early nineties. It later gained full
Tourist arrivals to the Caribbean fell by 65.5 per cent in 2020, according to the Caribbean Tourism Organization, CTO, but the group is forecasting a turnaround this year. In a statement released on Monday, the CTO said the impact of COVID-19 on the travel and tourism industry was particularly
There’s something missing from a new wave of bars opening around the world – alcohol. Aimed at the growing number of people exploring sobriety, the bars pour adult drinks like craft cocktails without the booze. At 0 per cent Non-Alcohol Experience, a futuristic bar in Tokyo, patrons can sip a
