JAMAICA BANKERS ASSOCIATION SUPPORTS
HURRICANE IVAN RELIEF EFFORTS

At a meeting held on Wednesday, September 15, 2004, members of the Jamaica Bankers Association (JBA) agreed to establish accounts at all branches of all commercial and merchant banks, to accommodate contributions from persons wishing to donate monies to the Hurricane Ivan Reconstruction Initiative.

Raymond Campbell, President of the JBA, commented that “there is a critical need to leverage existing channels of social and monetary assistance programmes to ensure that the relief and reconstruction efforts are both quick and effective.”

Monies contributed to the relief effort are to be deposited to, Office of National Reconstruction a/c - Jamaica Hurricane Reconstruction Fund. The account numbers at each member institution is as follows:

Members of the JBA have also embarked on other initiatives through their individual institutions. The National Commercial Bank has launched a matching fund initiative where it will match all contributions towards the effort up to $100 million. The institution has also established a loan facility at concessionary interest rates for homeowners and farmers adversely affected by the Hurricane.

The Bank of Nova Scotia has mobilised resources to assist with the rehabilitation of primary schools across the nation and through the Development Bank of Jamaica, to assist with the reconstruction process of the agricultural sector.

Pan Caribbean Financial Services Ltd., Citibank N.A., First Global Bank Ltd., RBTT Bank Jamaica Ltd. and FirstCaribbean International Bank Jamaica Ltd. have also established initiatives and made significant contributions to the Hurricane Relief and Reconstruction Effort. Other members have made verbal pledges of support.

The JBA and its members reiterate that it stands ready to assist the authorities in time of national emergencies.