On August 22, 2022, the Minister responsible for Finance requested that I assess the operations of Jamaica Mortgage Bank and the Bank of Jamaica to determine whether these entities carry out functions primarily of commercial nature and hence meet the criteria for certification as not being part of the specified public sector.

The criteria for certification of public bodies as not being part of the Specified Public Sector are contained in the schedule to Regulations 14 (1) and consist of four standards: –

1. Fiscal Independence
2. Independence of Human Resource Decision-Making
3. Financial Standards
4. Transparency and Governance.