Fri | Jun 5, 2020

An appeal to bankers

Published:Friday | November 26, 2010 | 12:00 AM

The Editor, Sir:

Please publish as an open letter to Ms Minna Israel, president of the Jamaica Bankers' Association:

Dear Ms Israel,

We write to ask your association to exempt bank accounts with balances under J$100,000 from the present range of bank charges and fees imposed upon them.

This call comes against the background of the immense suffering of so many of your customers who are the small depositors and savers in your banks. Many of these customers are unable to buy medicine or food, or to pay their necessary utility bills, because their bank balances have been whittled away by these fees and charges.

It is placing our pensioners and golden agers in a particularly desperate situation, which must be changed out of sheer respect and consideration for their reasonable survival in these harsh economic times.

We would also ask that more consideration be given to younger entrepreneurs and small businessmen who complain of being unable to access loan financing for projects, which they take to the commercial banks for financial support. Even where loan funds are dedicated for this purpose, the businessmen indicate that the requirements and process to access these funds are discouraging and to no avail.

We are confident that the adoption of these two initiatives will go a long way towards reducing hardship to the most vulnerable of us, and help to increase production and employment, which is one of the greatest priorities now.

We look forward to a positive response from the Jamaica Bankers' Association.

I am, etc.,



Jamaicans for

Sustainable Development

PO Box 1823

Kingston 8