Jamaica Mortgage Bank (JMB)
| Mode of Procurement | Stock Exchange Listing – Privatisation |
| Project Sponsor(s) | Ministry of Housing, Urban Renewal, Environment & Climate Change (MHURECC) & Jamaica Mortgage Bank (JMB) |
| Description and location | The Jamaica Mortgage Bank (JMB) is a statutory corporation established under the Jamaica Mortgage Bank Act (1973) to foster the development of housing, directly or indirectly assist societies registered under the Co-operative Societies Act to develop cooperative housing and to develop an active mortgage market.
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| Status | Transaction Structure completed and approved by Cabinet. Prior to the OFS, the GOJ and DBJ are seeking to identify a Strategic investor of which 40% of the shares to be sold in the OFS will be reserved. The GOJ is also seeking to sell the Mortgage Insurance Portfolio, currently administered by JMB, prior to the OFS. |
| Estimated Capital costs/development expenditures | N/A |
| Sources of Revenues | Income from operations at JMB |
| Expected life of the project | To be determined |
| Environmental Sustainability & Resilience features | To be determined |
| Contact Information | Nicola Russell |
Suzette Bryan |
