Statement on New Levy on Withdrawals

Scotiabank notes and shares the concerns expressed by our customers regarding the announcement last Thursday of a new levy on withdrawals which the Government of Jamaica is proposing for June 1. The implications of this levy will impact not just the financial sector but all Jamaicans.

To better understand this levy and determine the effects, Scotiabank in conjunction with the Jamaica Banker's Association is in dialogue with the Government of Jamaica. Once we have further details from the Government on how its levy will be imposed and collected we will advise our customers further.

Scotiabank is committed to being your trusted financial partner and we thank you for your continued support.