Black Immigrant Daily News
The Government will appoint the long-announced Fiscal Commissioner and operationalise the independence of the Fiscal Commission as the guardian of Jamaica’s fiscal rules during the 2023/24 fiscal year.
Governor-General Sir Patrick Allen made the announcement Tuesday as he delivered the Throne Speech as part of the Ceremonial Opening of the Parliament, marking the new parliamentary year.
“It is also the intention to strengthen the regulations of the financial sector by unifying prevention, supervision and regulation under the Bank of Jamaica while pursuing the establishment of a separate regulator for market conduct and consumer protection,” Sir Patrick said.
The governor-general said that in building a stronger Jamaica, the government “recognises the importance of institutions to preserve and maintain our macro-economic stability”.
And, he noted that Jamaica became the first country in 2022 to provide central bank digital currency as legal tender by way of JAM-DEX.
He highlighted that “JAMD-EX enables an affordable and efficient means to secure payments, and is especially beneficial to those who do not have a bank account”.
Meanwhile, the governor-general said the regulations for the nomination, selection and appointment to the boards of public bodies will come into effect during the upcoming fiscal year.
He said the aim is to “provide a transparent mechanism for persons to serve on boards of public bodies”.
NewsAmericasNow.com
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