The Bank of Jamaica is Jamaica’s central bank, established in 1960 to regulate the country’s monetary system.
It was created under the Bank of Jamaica Act, 1960, shortly before Jamaica became independent in 1962. The institution is responsible for monetary policy, maintaining price stability, supervising specified financial institutions, and managing Jamaica’s foreign-exchange reserves.
The Bank of Jamaica also issues Jamaica’s banknotes and coins. Its headquarters are in Kingston, the country’s capital and main financial centre. The bank’s role is sometimes confused with that of the Ministry of Finance and the Public Service, which handles government fiscal policy rather than central-bank monetary policy.
Jamaica’s currency is the Jamaican dollar. The central bank’s official name is the Bank of Jamaica, not “Jamaica National Bank,” a separate commercial banking institution.