President and Chief Executive Officer of Bank of Nova Scotia Jamaica, Bruce Bowen has been re-elected president of the Jamaica Bankers Association (JBA).

The election took place at the JBA’s annual general meeting last week.

Maureen Hayden-Cater, President of First Global Bank was elected vice president of the Association, according to a release.

Also re-elected were Philip Armstrong, Deputy Chief Executive Officer, Pan Caribbean Financial Services and Managing Director, PanCaribbeanBank as treasurer, and Pamela Smith, General Manager, MF&G Trust and Finance as secretary.

Bowen expressed appreciation to the officer corps for its support during the period 2011-2012 as well as to the members of the executive council for their continued demonstration of confidence in his leadership.

He cited the following as achievements of the JBA over the past year:
• Supporting economic growth by continuing to reduce borrowing rates across the industry
• Working with the Bank of Jamaica to finalize and implement an industry voluntary code of conduct to enhance the industry’s customer relationship management processes
• Building consumer awareness about ways to protect against financial fraud and cybercrimes
• Providing input and liaising with the industry’s regulators and the Government on issues of national importance such as the U.S. Foreign Account Tax Compliance Act.

Bowen said he will continue to ensure that the JBA support the Government, regulators and all Jamaicans by facilitating economic growth while maintaining a stable and sound banking system.

In addition, the JBA will collaborate with the central bank and other industry players to expand payment systems available to Jamaicans, such as mobile financial services and will work with the new credit bureau licensees to implement the requisite services.

business@gleanerjm.com