Tag: regulations
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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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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.…
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The Real Bottleneck in Financial Inclusion Isn’t Regulation
Jamaica is not excluding people from finance by choice. It is excluding them by process. Every delay in opening an account, every manual underwriting step, every conservative credit assessment that defaults to “no” is a quiet decision made by a system that was never designed for the people it now serves. Inclusion fails not at…