Regulatory Alerts2008-01-01
Standard of Best Practice for Effective Corporate Governance of Deposit-Taking Entities
The Bank of Jamaica issued this 2008 Standard to establish minimum corporate governance expectations for licensed deposit-taking entities in Jamaica. The document mandates robust governance frameworks, including independent board composition, separation of chairman and CEO roles, and rigorous fit-and-proper assessments for directors. It further requires effective oversight mechanisms, regular board evaluations, and strict adherence to risk management and internal control standards to ensure financial stability.
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