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Letters
May 31, 2018

JCDS an efficient headache

Dear Editor,

I write to highlight a transaction that I have been in the process of executing for over a month with the Jamaica Central Securities Depository (JCDS). I find the JCDS both inefficient and nonchalant when it comes to processing my transactions, as it is still not successful.

I have made over four trips from Spanish Town, St Catherine, to the JCDS trying to recoup dividends for some shares my father recently gave to me. I guess my little bit of dividends is not worth quick processing for me to receive the payment.

Each time I visited I leave a contact number asking them to call me if there are any problems or anything missing. Well, after all this time I am now being told that my transaction was not processed due to it being missing the $20 stamp required.

What disturbs me is that, apart from the multiple visits, I called them numerous times to query the transaction and not once was the missing stamp mentioned. It’s hard to phone in and successfully contact to a worker of the JCDS as they are always on lunch or not at their desks, it seems.

I went again yesterday, just out of curiosity, only to be told about the stamp. When I wished to file a complaint I was told that the supervisor is too busy to take my complaint. The person added that they are busy because they are not only doing one thing.

Now I don’t mean to judge, but I must say that my grandmother is 84 years old and she moves faster than I see them moving. They don’t seem to be in tune with reality. They don’t seem to care. Maybe it is because of the itty bitty dividends in my account, but I want it sooner rather than later.

The financial sector in Jamaica is best described as an efficient headache. Customer service is only playing the role of the phantom of the opera. I would ‘cuss’, but my doctor has warned me about my temper; hence, I am patiently writing this letter.

P Matthews

St Catherine

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