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NHT assures its investment at SSL is safe

By Lorraine Mendez
 
The National Housing Trust (NHT) says its investment in Stocks and Securities Limited is safe.
 
The investment company has been rocked by a multi-million US dollar fraud scheme which is being investigated.
 
Finance Minister Dr. Nigel Clarke on Monday listed the NHT among five public bodies with accounts at SSL.
 
NHT says SSL is part of a pool of brokerage institutions it has used to purchase shares or stocks on the equity market.
 
It says its account at SSL reflects units purchased in three securities listed on the Jamaica Stock Exchange. As at January 16, the units were valued at $230 million.
 
NHT says it has independently verified the units with JamClear CSD, the Bank of Jamaica-managed electronic custodian for domestic issues of BOJ and Government of Jamaica securities.
 
In addition to the National Housing Trust, public bodies with accounts at SSL include National Insurance Fund, Jamaica Agricultural Society and Jamaica Banana Industry Disaster Risk Fund. 
 
The five accounts total nearly J$1 billion.
 


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