Jamaica Money Market Brokers Limited (JMMB) has advised that the Bank of Jamaica has completed its assessment of JMMB’s application to acquire the Capital & Credit Financial Group (CCFG) and has recommended to the Minister of Finance and Planning that approval be granted. This recommendation puts JMMB in a position to make a formal offer to the shareholders of CCFG in Jamaica and Trinidad and Tobago to acquire 100% of their shareholdings. On receiving the formal offer, the Board of CCFG will, as required by regulations, issue a Directors’ Circular providing its recommendations to its shareholders.

The Minister has indicated that he will grant JMMB approval subject to the acceptance of the offer by the holders of CCFG and receipt required submissions.