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The move brought Jamaica in line with European standards, but at first meant that companies filing their financial reports with the U.S. Securities and Exchange Commission (SEC) would have to reconcile their figures to Generally Accepted Accounting Practices (GAAP) and highlight the differences from IFRS. In June 2007 the SEC allowed companies ...
Step 3: Open a new bank account Opening a new bank account is a straightforward process. You may need to provide details such as your ID, social security number, legal address, and contact info.
Key takeaways. To open a business bank account, you will need your personal ID as well as business documentation, such as information about your business formation and additional owners or partners.
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The Financial Services Commission was established to improved the Financial Supervision in Jamaica after the 1995 Financial Crisis. [1] After the act was passed, the senior directors and key executive members were hired in November 2001. The General Manager was on-boarded in February 2002 and in April, the operations was started. [3]
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The Bank of Jamaica (Jamaican Patois: Bangk a Jumieka) is the central bank of Jamaica located in Kingston. It was established by the Bank of Jamaica Act 1960 [ 3 ] and was opened on May 1, 1961. It is responsible for the monetary policy of Jamaica on the instruction of the Minister of Finance .
Brian Wynter OJ (born in Jamaica, 1959) is a Jamaican banker and financial regulator, who is notable for his work with the Financial Services Commission (FSC). [1] In October 2009, it was announced that he would assume the position as Governor of the Bank of Jamaica on 1 December 2009.