Regulatory Alerts2010-11-23
Added · Updated
The Credit Reporting Regulations, 2010
The Minister of Finance and the Public Service in Jamaica issued the Credit Reporting Regulations, 2010 to establish licensing requirements for credit bureaus under the Credit Reporting Act, 2010. The regulations mandate a JMD 25,000 application fee, a JMD 100,000 licence fee, and a minimum subscribed capital of USD 100,000 for applicants. Additionally, licensees must maintain sufficient liability insurance and submit detailed applications covering financial statements, operational plans, and fit-and-proper assessments for directors and shareholders.
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