Regulatory Alerts1996-01-01
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Real Estate Appraisal Management Standards
The Bank of Jamaica issued these standards in March 1996 to establish minimum policies and criteria for real estate appraisals supporting financial transactions. The document mandates that financial institutions implement prudent appraisal policies governing appraiser selection, report contents, and valuation methods while ensuring appraiser independence. It further assigns specific oversight responsibilities to the Board of Directors for policy review and to management for development and implementation of these appraisal procedures.
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