July 10, 2020

Jamaica Baptist Union urges PM to return the Banking Services Bill to Parliament’s agenda

The Jamaica Baptist Union (JBU) has implored Prime Minister Andrew Holness to put back the “Banking Services Bill” on the Parliament’s agenda and lead the House in discussions with a view for the Bill to be passed into law.

In a letter over the signature of General Secretary Karl Johnson, the JBU says, the most vulnerable in the country will suffer even more when the direct deposit policy of the Ministry of Labour and Social Security hits the recipients of the NIS Old Age Pension.

The letter says, the fees and charges by the banks at which they would be obliged to open accounts would seriously erode the value of that pension that already cannot meet their living expenses.

“Now more than ever, as our national economy suffers the impact of COVID 19, justice needs to be brought into the banking sector which for too long has been reaping significant profits through unjust fees charged to customers. For too long our compatriots, including pensioners, have seen their savings gradually depleted by fees while the banks register annual profits,” the JBU says.

According to the JBU, if the PM were to put this Bill back on the agenda of Parliament, he would be sending a strong message to the people of Jamaica that they have a government that cares.

At its General Assembly in February 2020, the 40,000 strong Baptist Union passed a unanimous resolution against what it called ‘unjust banking fees charged by commercial banks’.

The Assembly, which is the highest decision making body in the JBU, gave full support the Banking Services Amendment Bill tabled in Parliament by Opposition Spokesman on Finance, Fitz Jackson.

According to the Assembly, the Bill protects pensioners and others against unjust and unreasonable bank charges.

The letter to the Prime Minister was delayed because the Union felt that it should give the Government space to deal with the COVID 19 crisis.

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