Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, says the Government will be prioritising additional policies that facilitate a more inclusive economy for Jamaicans.

Dr. Clarke notes that work to this end has commenced with the introduction of a Central Bank Digital Currency (CBDC), now being piloted, and passage of the Microcredit Act in Parliament.

He said the thrust will be further advanced with the development of a microinsurance policy framework, for which the proposed supporting legislation is being finalised for tabling in Parliament by the end of the 2021/22 fiscal year, next March.

The Minister was speaking during the Insurance Association of Jamaica (IAJ) semi-virtual microinsurance conference, at The Jamaica Pegasus hotel in Kew Kingston, on Wednesday (October 27), which was staged under the theme ‘Microinsurance – The Jamaican Perspective’.

Dr. Clarke said the CBDC, which “will be a reality in Jamaica next year”, offers the opportunity to incorporate large numbers of persons who are outside the formal financial service system, by making it more accessible.

He further stated that the Microcredit Act is intended to upgrade the level of service that persons who access the microcredit sector receive.

https://jis.gov.jm/government-to-prioritise-more-policies-to-facilitate-a-more-inclusive-economy/