Robin Levy, CEO of the Jamaica Corporate Credit Union League (JCCUL)
The Jamaica Corporate Credit Union League (JCCUL), which represents 23 credit unions with one million members, is mobilising them to object to the Bank of Jamaica's removal of a clause from the Credit Unions (Special Provisions) Bill that allows them to bypass the commercial banking system when clearing cheques and trading in foreign exchange.
Robin Levy, CEO of the League, says the Specially Authorised Credit Union clause would allow processing of the transactions done by the credit unions without using the commercial banks as an intermediary.
He says this provision is meant to be the first step toward giving credit unions full access to the financial system once the Bank of Jamaica begins regulating them.
All feeds
