Category: Regulations
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Basel III — How Modern Banking Rules Make Banks Safer
After the 2008 Global Financial Crisis, regulators saw a clear problem: many banks looked strong but were actually fragile. They had: Basel III was created by the Basel Committee on Banking Supervision to fix this. Global Adoption Basel III is not a law. It is a global standard adopted by countries through their own regulators.…
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Why Basel Exists — The Origin of Global Banking Rules
Banking has not always had global rules. Before the 1970s, banks were regulated mostly within their own countries. As banks expanded internationally, this became a problem. A failure in one country could quickly affect others. In 1974, the collapse of a German bank exposed this risk. Regulators realized that banking instability could spread across borders.…
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Trust, Biometrics and the Future of Identity in Jamaica
In the previous article, One Person, Many Identities: Jamaica’s Fragmented Identity Problem, we discussed how Jamaica’s identity system is spread across several government agencies. Jamaica’s proposed National Identification System (NIDS) aims to address this by establishing a single root identity for each person. But an important question remains: how will identities actually be enrolled? Enrollment…
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One Person, Many Identities: Jamaica’s Fragmented Identity Problem
In the previous article, The Growing Threat of Identity Fraud in Jamaica, we examined how identity fraud can occur when individuals manipulate documents to impersonate others within financial systems. While such cases often appear to be isolated crimes, they point to a deeper structural issue: Jamaica’s identity ecosystem is fragmented. Today, identity information is managed…
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Do We Have Too Many Regulations?
So, I was at a recent networking event staged by the PSOJ when someone asked: “Do you think Jamaica has more regulations than necessary?” My immediate response was no. Jamaica largely complies with international standards imposed by global bodies. But that question forced me to look deeper — not at Jamaica first, but at history.…