The Bank of Jamaica has issued Fintech Regulatory Sandbox Guidelines to guide the establishment of a Fintech Regulatory Sandbox. The objectives of the Fintech Regulatory Sandbox are to provide a platform to encourage innovations in financial services, promote competition and promote financial inclusion. The Sandbox will also promote the Bank’s understanding of fintech products, services and business models and inform the framing of new regulations or amendment of existing regulations. The Sandbox Guidelines came into effect on March 16th, 2020.
To read more about this initiative, click here.