Jamaica Consumer Protection and Financial Literacy
This technical note is based on a mission conducted from April 24 to May 9, 2014 to Kingston and other parts of Jamaica. The mission also conducted a short mystery shopping exercise with the assistance of a representative from the national consumer...
| Main Authors: | , |
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| Format: | Report |
| Language: | English en_US |
| Published: |
Washington, DC
2015
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/2015/05/24459224/jamaica-consumer-protection-financial-literacy-technical-note http://hdl.handle.net/10986/21908 |
| Summary: | This technical note is based on a
mission conducted from April 24 to May 9, 2014 to Kingston
and other parts of Jamaica. The mission also conducted a
short mystery shopping exercise with the assistance of a
representative from the national consumer’s league. Valuable
comments on the draft note were provided by the Bank of
Jamaica and the Financial Services Commission. The technical
note consists of findings, issues and recommendations, and
four annexes: annex one, existing structure for prudential
and consumer protection supervision; annex two, current and
revised legislation affecting financial consumer protection;
annex three, comparison to world bank good practices on
financial consumer protection; and annex four, national
program of consumer protection and financial literacy,
implementation plan components. The key recommendations
present targeted measures that can be immediately
implemented and will have a positive (and measurable) impact
on public confidence in formal financial institutions. The
focus of the technical note is on deposit-taking
institutions although some aspects of others parts of the
financial sector have been included. |
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