Micro-Credit Act Passed In Senate Before Deadline

After a four and a half-hour debate, the Micro-Credit Act was finally passed in the Senate earlier today. And, it seemingly just in time to meet the deadline for the Financial Action Task Force’s obligations to remove Jamaica from the European Union’s list of countries to combat money laundering.

The 95-page legislation seeks to regulate the growing micro-credit sector which provides financial assistance to individuals and micro, small and medium sized businesses.

Jamaila Maitland reports for CVM Live: