Nearly a half a million Jamaicans do not have a bank account.
That’s according to data provided by Deputy Governor of the Bank of Jamaica, John Robinson.
He was speaking Thursday, September 26 and shared statistics from a recent World Bank Survey, at the Annual Academic Research Conference of the University of the Commonwealth Caribbean (UCC).
Robinson said,” The World Bank indicated in its survey, that about 23 per cent of Jamaicans, over the age of 15, do not have a bank account.” That’s approximate, 450,000 Jamaicans.
Robinson also said the survey reveals that only about 11% of Jamaicans borrow from banks and only one per cent of Jamaicans use mobile devices to conduct banking transactions.
The BOJ Deputy Governor said,” there is a long way to go in enhancing and accelerating financial inclusion”
BOJ hopes to get Jamaicans to utilize the necessary technologies and products that will make their engagements with banks more efficient.