Standards and Regulation in Jamaica
- Regulatory environment
The two main regulators in Jamaica are the Bank of Jamaica, a supervisor of the financial sector, and the Office of Utilities Regulation (OUR), which regulates telecommunications, transportation, water and sewerage, and electricity. The Jamaica Stock Exchange is regulated by the Regulatory and Market Oversight Division (RMOD).
In the absence of a formal Press Council the Press Association of Jamaica has two bodies which perform similar services to that of a Press Council: the Advisory Council and the Jamaica Press Institute (JPI).
The healthcare sector is regulated by four major bodies which are the Medical Council of Jamaica (representing physicians), The Nursing Council of Jamaica (representing nurses and midwives), the Council Supplementary to Medicine (for all other allied health professionals) and the Pharmacy Council of Jamaica (for pharmacists and related professionals and students).
Jamaica is a member of the International Organization for Standardization (ISO). The coordinating bureau for standards in the country is the Bureau of Standards Jamaica (BSJ), which was created by law under the Standards Act of 1969 to promote higher standards in commodities, processes and practices.
The World Bank Ease of Doing Business Index 2012 ranks Jamaica 90th out of 185 countries in overall ease of doing business. In starting a business (21st), resolving insolvency (32nd) and dealing with construction permits (50th) Jamaica ranks well into the top third. It ranks low in terms of paying taxes (163rd) and enforcing contracts (129th out of 185 countries). Regionally, Jamaica ranks moderately in ease of doing business coming 15th out of 33 countries in Latin America and Caribbean and 2nd when it comes to starting a business.
|Standards and Regulation organisations in Jamaica|
|Bank of Jamaica||
|Bureau of Standards Jamaica||
|Office of Utilities Regulation (OUR)||