As the July deadline for microlenders to be licensed under a new supervisory regime by the Bank of Jamaica (BOJ) looms, the group representing microcredit institutions (MCIs) across the island is looking forward to a sit-down with the Ministry of Finance and the BOJ to discuss what it is describing as “real concerns” that continue to be raised by its members. The issues are believed to relate to the fit and proper rules and are the latest among several matters that have been brought up by the small-scale lenders about the paperwork and operational changes required for their business to get approved for a microcredit licence under the new legal arrangements created by the passing of the Microcredit Act in Parliament last year.

https://jamaica-gleaner.com/article/business/20220403/small-lenders-still-unhappy-boj-licensing-regime