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Nov 25, 2019

Learning from the Jamaica Stock Exchange

Founded in 1968, the booming Jamaican Stock Exchange has been named the world’s best-performing stock market, twice.  According to online articles, Jamaica’s success in its stock exchange is greatly due to its “dramatic economic turnaround that culminated in the country exiting its IMF programme with flying colours last month.”  Chairman Ian McNaughton and Managing Director Merlene Street Forrest are in Belize holding discussion with the Economic Development Council, sharing knowledge on how to develop a successful stock market in Belize.  Along with Ishmael Quiroz, Executive Director for the Council, Forrest and McNaughton appeared on Open Your Eyes this morning where they discussed what it will take.

 

Ian McNaughton

Ian McNaughton, Chairman, Jamaica Stock Exchange

“There needs to be education. There needs to be a public education initiative which enables people to understand what the stock exchange is, what it offers and how they can participate. So that is the first step. The second step really is to ensure that it is properly managed and properly regulated. Once that is in place and people have the confidence that this is not a ponzi scheme their confidence will grow and the market with grow.”

 

Marlene Street Forrest

Marlene Street Forrest, Managing Director, Jamaica Stock Exchange

“There are various levels of regulations and the stock exchange now regulates both the listed companies the brokers that operate within the market. So there are so many areas of regulations that people begin to feel comfortable. But not only that, there is the regulatory framework that we actually regulate.”

 

Ishmael Quiroz

Ishmael Quiroz, Executive Director, Economic Development Council

“From the public sector side there is interest knowing that there are things that we have to have in place if we actually go that route. It is important for us to talk about it together and move forward in getting all the pieces in place.”


Viewers please note: This Internet newscast is a verbatim transcript of our evening television newscast. Where speakers use Kriol, we attempt to faithfully reproduce the quotes using a standard spelling system.

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