The Jamaica Chamber of Commerce, (JCC), is endorsing the approach of the finance minister to address the valid concerns of Jamaicans, emanating from recent events related to Stocks and Securities Limited.
The commerce says there must be re-energized focus on accountability and prudential management in the domestic financial sector for the protection of the populace.
The JCC adds that fraud is a reality in any commercial system, but transparent information about industry wide standards, and compliance by individual firms, to mitigate and detect fraud in the financial sector, must become more accessible to average Jamaicans.
The JCC says it agrees that the bank of Jamaica, can play a major role in ensuring the structural integrity of the financial services sub-sector, but it remains for everyone, including business leaders, to build a culture of intolerance for “turning a blind eye” and “code of silence” ethos, that allows fraud and other crimes to go undetected.
JCC second Vice President Emile Leiba says the chamber looks forward to implementation of the policies, to address the issues that have risen.
The chamber states that it looks forward to the outcome of criminal investigations specific to the known cases of fraud.
Its also call for aggressive efforts to recover the assets of those defrauded and support alacrity to prosecute all those responsible, regardless of status or station.