How serious are we about moving forward?

[Lazie]

There is a "tax expert" in Jamaica to hold discussions on how to move Jamaica into Offshore Banking that was interviewed on Real Business this morning. After the interview was concluded, Deacon Thwaites asked Ralston Hyman how this was going to benefit Jamaica.

Mr. Hyman, in all his wisdom said its better if we grow the agricultural, IT and Telecommunication sectors. I have no problem with growing those sectors, but what is wrong with going into Offshore Banking? He reminded me of Jawge .. it has to be either or ....these people are amazing ... better yet ... amusing.

[Gamma]

well nothing wrong wid it but if one looks at the more successful offshore centres...they tend to be british overseas or dependent territories.....cayman, bermuda, channel islands

jamaica's problem is corruption and this affects how groups like the OECD, FATF and IMF look at a certain jurisdiction as an offshore centre....jamaica would have A LOT of work to do before it could be come viable because it will not have england to back it PLUS.....the judicial system is another key elemant....the CCJ will not exactly encourage potential clients....

[Lazie]

well nothing wrong wid it but if one looks at the more successful offshore centres...they tend to be british overseas or dependent territories.....cayman, bermuda, channel islands

jamaica's problem is corruption and this affects how groups like the OECD, FATF and IMF look at a certain jurisdiction as an offshore centre....jamaica would have A LOT of work to do before it could be come viable because it will not have england to back it PLUS.....the judicial system is another key elemant....the CCJ will not exactly encourage potential clients....

Fully agree with your points Gamma. I wish some of you would listen to these guys more often. Senator Webhy is in charge of reviewing the possibility of going into Offshore Banking. If the conclusion is that it isn't the way to go ... so be it.

[Mosiah]

Should we even examine the possibility? Or should we spend our time dealing with corruption and crime?

I guess we could develop some Silicon Valley bankers out 'ere!