Page 113 - BFSI CHRONICLE 10 th Issue (2nd Annual Issue ) .indd
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BFSI Chronicle, 2 Annual Issue, 10 Edition July 2022
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Jamaica Andrew Holness who is Jamaica’s Prime Minister
confirmed that the Bank of Jamaica will roll out a digital
Jamaican Dollar in the year 2022 following a successful
pilot last year.
“This will develop as a foundation for Jamaica’s digital
payments architecture and thus enable good financial
inclusion, raise in transaction velocity while decreasing
the Cost of Banking for the Jamaican people,” he said.
As part of the test project, J$230 million ( 1.28 million) worth
of digital currency was minted. 57 customers conducted
cash-in, person-to-person, and cash-out transactions and
this comprised of transactions with small businesses like
a local craft jeweller.
Ukraine The National Bank of Ukraine has been exploring the
possibility of issuing a national digital currency since
2016. Now the country is ready for a pilot test of its own
CBDC.
The future or coming pilot “Will aid as a technological
basis for the issuance of electronic money, and this will
be next main step to financial infrastructure and advance
innovation of payment in Ukraine country”.
The Institute Of Cost Accountants Of India
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