ISP Receives Approval For BOJ Microcredit Licence    

• ISP Finance Services Limited (ISP) recently announced that the company has received the approval of the Bank of Jamaica to be granted a Microcredit Licence.
• The Microcredit License is another step in the company’s strategic direction following the recent appointments of directors Damion Duncan and David Lee.
• ISP continues to innovate and position its products and services for the convenience of a wider Jamaican public.
• This approval means that ISP has satisfied the requirements to continue its operations as a microcredit agency.
• The Microcredit Act, passed in January last year, is aimed at licensing and regulating microcredit institutions (MCIs) that provide financing to individuals, micro, small and medium-sized enterprises. Under the Act, the Bank of Jamaica is charged with general administration, as well as the supervision of microcredit institutions.

(Source: JSE)