Legislation to regulate Money Transfer and Remittance Agents and Agencies was passed in parliament in February 2004 and the regulatory regime came into effect on 5 July 2005. This regulatory regime is one of several measures, which Jamaica was required to implement in order to fulfill its international obligations to combat money laundering and the financing of terrorism.
Under this regime, entities will be required to obtain the approval of the Minister of Finance and Planning to engage in the business of remittance and money transfer, (which power of approval has been delegated to the Bank of Jamaica) and all such entities will be regulated by the Bank of Jamaica.
The following comprises the current listing of companies that have been granted approval by the Bank of Jamaica, acting on behalf of the Minister of Finance and the Public Service, to engage in the operation of remittance businesses in Jamaica as Primary Agents:
|Status of Remittance Service Licences|
|Licensing Requirements for Remittance Companies|
|Remittance_Licence Application Form|
|Operating Directions for Remittance Companies|
|List of Remittance Locations as at 31 Jul 14|
|Fit and Proper Questionnaire|
|Guidance Notes for the Prevention and Detection of Money Laundering and Terrorist Financing Activities|
|Guidance Notes on the Detection and Prevention of Money Laundering & Terrorist Financing Activities (Revised 2009)|
|Conducting Business with Financial Institutions Regulated by Bank of Jamaica|
|What you need to know (Q1 2006 )|
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