Published: Wednesday | January 7, 2015. McPherse Thompson, Assistant Editor – Business

The Bank of Jamaica (left) and Scotiabank near the waterfront in Kingston. The government will focus on financial sector reform this year as part of the economic support programme. – File

The government said it plans to bring into effect the Banking Services Act by the end of September this year as part of the efforts to mitigate the risks inherent in Jamaica’s highly interconnected financial system.

The act was adopted six months ago, in June 2014, but the supporting regulations require parliamentary approval and will be tabled by the end of July 2015, according to the December 2014 memorandum of economic and financial policies the Government submitted to the International Monetary Fund (IMF).

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