The Bank of Jamaica (BOJ) is indicating that its mission to deepen financial inclusion since the launch of a related campaign in 2017 has partially succeeded, but has significant areas of failure which are being addressed partially through financial education and improved products.

The central bank notes that one of the key challenges for financial inclusion is usage of financial services, including digital payments and is therefore anticipating that its digital currency (CBDC) “will provide a suitable product to the market with the value proposition that makes digital payments attractive to both the financially included and the financially excluded.”

However, as outlined by the bank, it is unlikely to reduce remittance costs to Jamaica as it is for local use only.

https://www.jamaicaobserver.com/business-report/digital-currency-will-be-for-local-use-only-should-speed-financial-inclusion-boj_225615?profile=1056