The Jamaica Institute of Bankers (JIOB), in association with the Caribbean Anti-Money  Laundering Programme (CALP), held its annual seminar at the Jamaica Pegasus Hotel on Friday, June 13, 2003, beginning at 8:30 a.m. Mr. Aubyn Hill, Managing
Director, National Commercial Bank Jamaica Limited, open- ed the seminar.

Other speakers included Mr. Nyron Davidson, Financial Sector Technical Advisor of the Caribbean Anti-Money Laundering Programme, whose presentation provided an overview of high risk products and services; when and how to report suspicious activity; and how to develop and implement a sound anti-money laundering compliance programme.
 
Among other topics discussed were: “New Money Laundering Developments since 9/11”, “High risk products and services that attract money launderers” and “How the USA Patriot Act affects Jamaica's financial institutions.”
 
In an interview following the seminar, JBA President Raymon Campbell noted that anti-money laundering legislation requires all financial institutions to have documented procedures and policies covering specific areas. “These include customer identification, reporting of suspicious transactions and education and training of staff of financial institutions in order to ensure full implementation of procedures. It is in keeping with this requirement that the JIOB participates in the annual seminar,” Campbell said.
 
The Jamaica Institute of Bankers (JIOB) was established in 1977 by the Bank of Jamaica and the commercial banks. In 1999 the Jamaica Bankers Association assumed full responsibility for the operations of the JIOB. The main objective of the Institute is to satisfy the training and educational needs of personnel within the financial services industry. In addition to offering short-term training courses and seminars, the JIOB offers an MBA programme through the University of Manchester/Manchester Business School. The Institute is registered by the University Council of Jamaica as a tertiary educational institution.