Finance and the Public Service Minister,  Audley Shaw (left), listens to IBIS Management Associates Manager of Banking Compliance and Risk, Arthur Dania, at a seminar on ‘The Evolution and Future of Capital Adequacy Standards’, at The Knutsford Court Hotel in New Kingston on Tuesday.

KINGSTON, Jamaica (JIS) — Finance and the Public Service Minister Audley Shaw says a Microcredit Bill, which aims to regulate the microfinance sector, is being finalised for tabling in Parliament shortly.

“This is necessary as Jamaica seeks to expand formal financial inclusion that is consistent with international best practices of transparency,” Shaw said.

He was speaking at a seminar hosted by the education arm of the Jamaica Bankers Association (JBA) on ‘The Evolution and Future of Capital Adequacy Standards’, at The Knutsford Court Hotel in New Kingston yesterday.

The minister informed that consultation on the Bill was held with the Jamaica Association for Micro-Financing on Tuesday, and the Bank of Jamaica (BOJ) has also given feedback.

http://www.jamaicaobserver.com/latestnews/Microcredit-Bill-being-finalised–says-Shaw