World dimension of alleged fraud at SSL have to be fastidiously managed – PM

Jamaican Prime Minister Andrew Holness says his administration is conscious that the case of alleged fraud being investigated at Shares and Securities Restricted (SSL) has a world dimension that have to be fastidiously managed.

“I’m not conscious of any systemic points within the monetary system that might trigger contagion however, definitely, if actors within the sector or the widespread particular person is misinformed and consumes info that’s incorrect, info that’s false and deceptive, it may affect the way in which through which financial actors make their monetary choices and create a disaster that doesn’t have to exist,” he mentioned as he delivered the keynote deal with on the opening ceremony for the 18th Jamaica Inventory Alternate (JSE) Funding and Capital Markets Convention, at The Jamaica Pegasus lodge.

Holness urged Jamaicans to play their half in safeguarding the nation’s monetary market, by performing responsibly and never participating in actions that might doubtlessly jeopardize its integrity.

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He famous that the market is a nationwide asset and a regional chief within the Caribbean, which supplies Jamaica a aggressive benefit.

The prime minister maintained, nevertheless, that stakeholder engagement in illicit market actions poses a threat to this credibility and, as such, “we should shield it in any respect prices”.

He mentioned among the many steps to this finish are the necessity for individuals to make sure that info on points impacting the sector is verified and emanates from reliable sources.

Prime minister Andrew Holness famous queries arising “as to why I didn’t soar out with a press release instantly” in relation to the SSL matter.

“It’s just because I’ve an obligation that once I converse, the knowledge that I present have to be unassailable… and meaning you need to take time to confirm [it], in order that confidence will be restored,” the Prime Minster emphasised.

He cited people who “had a subject day” with misinformation associated to the SSL matter, noting that “it was nearly gleeful celebration”.

“I ask all Jamaicans to assume very fastidiously on this stuff. Allow us to shield our nationwide asset that we’ve got…. We should act responsibly with info. We should be taught from our previous crises and be daring to talk the reality about them. We should not make the identical errors we made already,” Holness mentioned.

CMC/