BOJ, banks racing to restore services in hurricane-hit areas
KINGSTON, Jamaica — The Bank of Jamaica (BOJ) and the Jamaica Bankers Association (JBA) are working urgently to restore banking services, including access to cash, in communities hardest hit by Hurricane Melissa, the central bank announced on Sunday.
According to a BOJ release, several banks have already resumed operations in some locations, but significant obstacles remain in reactivating branch networks and automated teller machines (ATMs) across the island. These challenges include physical damage to facilities, displacement of staff, impassable roads, and extensive power and telecommunications outages. Security concerns have also emerged amid the difficult post-hurricane conditions.
Despite the disruptions, the BOJ confirmed that critical payment systems, such as its Real Time Gross Settlement (RTGS) platform, remain operational. The central bank has also suspended RTGS transaction fees for financial institutions until further notice and has urged banks to extend this relief to their customers.
In addition, the BOJ said it is assessing other temporary measures to support depositors and businesses, particularly in parishes most severely affected by the hurricane.
The central bank sought to reassure the public that it is coordinating closely with the banking sector to restore access to cash and full banking services as soon as possible. Restoration efforts will prioritise the hardest-hit areas, and both the BOJ and commercial banks have committed to providing regular updates on their progress.