About Bank of Jamaica
Bank of Jamaica (BOJ), established by the Bank of Jamaica Law (1960), began operations in May 1961, terminating the Currency Board System which had been in existence since 1939.
The establishment of the central bank was in recognition of the need for an appropriately regulated financial structure to encourage the development process, particularly as Jamaica was about to embark on the road to political independence.
In the earlier years, the central bank’s role tended to be largely reactive, as the institution grappled with several national and international developments. However, in recent years, monetary policy implementation has been characterised by a more proactive stance, as the central bank has actively sought to encourage the appropriate environment for economic growth and development.
BOJ stands at the centre of the local financial system and is charged with the responsibility to promote and maintain financial system stability… Continue reading about Bank of Jamaica here.