Byles accepts blame for JAM-DEX’s slow take-up
Business
Finance
August 12, 2026
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FOR every $1,000 in currency issued by Bank of Jamaica (BOJ) at the end of June, less than $1 was in JAM-DEX, underscoring the digital dollar’s limited reach as outgoing Governor Richard Byles accepts that the central bank mishandled parts of its roll-out.
Byles, whose tenure ends on August 18, said BOJ waited about two years before involving commercial banks and should have enlisted the Government from the outset to make digital payments a national priority.
“Let me take some of the blame,” Byles told the Jamaica Observer during an exit interview.
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