WILLIAM “BILL” CLARKE RE-ELECTED JBA PRESIDENT

Mr. William “Bill” Clarke, President and Chief Executive Officer of the Bank of Nova Scotia Jamaica Limited, has been re-elected President of the Jamaica Bankers Association (JBA) at the Annual General Meeting held on February 23, 2006. This is the fifth time Mr. Clarke is serving as President of the JBA.

Other members of the Executive are Mr. Patrick Hylton, Group Managing Director, National Commercial Bank, Mr. Wayne Wray, President First Global Bank and Ms. Pamela Smith, General Manager MF&G Trust, who were re-elected Vice President; Treasurer and Secretary respectively.

In the past year, Mr. Clarke guided the negotiations related to the Loan Agreements between members of the JBA and the Student’s Loan Bureau, maintained lobbying efforts regarding the establishment of a Credit Bureau and facilitated the JBA’s support and launch of the Police Civic Committee/JBA Scholarship Programme.

On being re-elected, Mr. Clarke stated that his objectives for the administrative year include the implementation of enhancements to the automated clearing system, establishing a framework for the introduction of a Credit Bureau and improving the public’s awareness of regulations, in particular those relating to new Anti-Money laundering legislation embodied in the Proceeds of Crime Act (POCA). He said the JBA will also continue to develop and support the scholarship programme, in collaboration with the Rotary Club of St. Andrew North and other interested parties.

Mr. Clarke thanked members of the JBA for the confidence they had shown in him and paid tribute to the other members of the executive and staff at the Secretariat for their commitment and dedication.

February 23, 2006