Police find homemade firearm in Lucea 10:32 AM
Raymond Wilson still in hospital 10:27 AM
Grim prediction for region 9:20 AM
Three held in multi-million dollar cocaine bust 8:41 AM
Rental cars featuring in robberies, murders 8:03 AM
In tornado's wake, worried parents seek out kids 6:38 AM
Business
Remittances rise at JNMS
Nekiesha Reid
Friday, October 05, 2012
Remittance service provider Jamaica National Money Services has reported an increase in business through the US over the past six months.
More money has been sent to Jamaica over the years, with 2011 showing the highest amounts of cash sent in 10 years, said Leesa Kow, general manager of JN Money Services Limited (JNMS).
Earlier this year, the Bank of Jamaica reported that remittance inflows of just under US$1.7 billion ($150 billion) for the first 10 months of the 2011-12 fiscal year represented the largest sum since the 2008-09 fiscal year.
Remittance companies alone saw increased growth by over six per cent to US$83 million for the period, which the bank said was due to growth in the source economies at that time.
But positive development in the US economy is not the only reason for the increased business to JN Money Services, Kow said.
The company's consistent performance throughout the past three years, as well as its strategic planning, has contributed to the growth, she said.
This expansion is expected to continue this year, she said, especially since more is being done to market the brand.
Since 2009, the company added new branches in the US, Canada and the UK — a move Kow said was calculated to bring in
more cash.
Other Stories
Parents must be accountants for Career Day
Skills that could top up your pocket
Working from home...an emerging sector?
Property tax relief for pensioners
Creditinfo gets green light from BOJ
JN Foundation to assist social enterprises
Haiti a lucrative market for Ja Broilers
Beaches Turks & Caicos: the gift that keeps on giving
‘Come and feel the magic’ - Colombia wants Sandals
Kremi lists today, says expansion to start in coming weeks
Suriname looks into solar energy for remote communities
As Jamaican dollar revalues, NIR rises to almost US$1 billion
Now Venezuela is running out of toilet paper
Moody's lowers Bermuda's rating
JNBS to celebrate 25th anniversary in the UK
2 companies to expand operations in Puerto Rico
Direct flight between Puerto Rico, Mexico begins
Haitian Compas Festival marks 15 years in Miami


