House Approves ‘Agent Banking’ Regulations

23

The House of Representatives this afternoon approved regulations intended to make agent banking a reality in Jamaica and improve consumer access to the banking sector.

Agent banking is the use of a retail or postal outlet by a financial institution or a mobile network operator to process transactions. This usually happens at places frequented by consumers.

The agent banking bill and accompanying regulations are aimed at developing the mobile money enterprise. It’s expected to revolutionize the banking sector.

Finance Minister, Audley Shaw, opened debate on the agent banking regulations today.

[audio_mp3 url=”http://nationwideradiojm.com/wp-content/uploads/2016/11/Shaw-opens-agent-banking-regulations-Nov-1-2016.mp3″]

Minister Shaw further explained the purpose of the agent banking bill.

[audio_mp3 url=”http://nationwideradiojm.com/wp-content/uploads/2016/11/Shaw-explains-agent-banking.mp3″]

— 30 —



Abka Fitz-Henley is a multiple award-winning journalist who is currently the Senior Reporter at Nationwide News Network (NNN). His primary areas of focus are Court, Crime and Parliamentary proceedings. Fitz-Henley was recently recognized in the regional celebrity magazine publication Panache as “The Breaking News Boss”. At 21 years of age, following his 1st year in media, Fitz-Henley was recognized with the Young Journalist of the year award from The Press Association of Jamaica and went on to cop one of the country’s highest recognized journalism prizes, the Journalist of the Year Award. He’s also been awarded the prestigious Corporate Jamaica Broilers Fairplay 1st place Award for investigative journalism and is the recipient of the Caribbean Blog Award for coverage of the infamous Kartel murder trial. Fitz-Henley is also the recipient of the PM Youth Award for Excellence. Over the years, he has appeared as a guest on the BBC World Service and BBC London.