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Davis wants Shaw to clarify position on investment schemes

Published:Friday | January 11, 2008 | 11:32 AM

Opposition spokesman on Finance, Dr. Omar Davis, wants the Finance Minister, Audley Shaw, to clarify his position on unregistered investment schemes.

Dr. Davis said Mr. Shaw criticized the People’s National Party (PNP) administration when it began its clamp down on these schemes last year.

Dr. Davis said he wants to know whether Mr. Shaw’s position has changed regarding the investment schemes.

According to Dr. Davis, Mr. Shaw’s counterpart, Don Wheby, has been vocal on the issue while Mr. Shaw remained silent.

Dr. Davies also said the opposition’s opinion on these alternative investment schemes remains the same as when it was in government.

He said the Bank of Jamaica (BOJ) and the Financial Services Commission (FSC) must duly assess any individual or entity seeking to take deposits from the public.