The Bank of Jamaica is introducing proposed standards that would require banks and other deposit-taking institutions to treat customer complaints as board-level risk issues.
Under the new framework, financial institutions would be mandated to implement tracking numbers for grievances and appoint named complaints officers to oversee resolution processes.
The move signals a shift toward greater accountability in the Jamaican banking sector, elevating consumer protection from operational handling to strategic governance.
By requiring board-level attention, the central bank aims to ensure that systemic issues raised by customers are addressed at the highest level of management, rather than being siloed within customer service departments.
This development follows recent communications from the Bank of Jamaica regarding economic conditions, including reports that all nine regions of the country are experiencing moderate economic recovery.
The regulatory push for improved complaint handling aligns with broader efforts to strengthen financial sector resilience and consumer trust during this period of economic stabilization.