JAMAICA NATIONAL Building Society (JNBS) has acquired majority shareholding in the National Building Society of Cayman (NBSC), giving Jamaicans living there, as well as Caymanian nationals, additional savings, mortgage options and money transfer services.
In a release, JNBS said it now owns more than 96 per cent of NBSC's shares.
According to Earl Jarrett, acting chairman of NBSC and general manager of JNBS, the acquisition follows a long association with NBSC that began several years ago when JNBS provided the company with technical and operational assistance, while maintaining owner-ship of a small percentage of its shares.
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Mr. Jarrett said the acquisition links Caymanians, Jamaican residents in Cayman and members internationally with a wide range of "mortgage solutions, investments and savings options for home ownership, as well as the technology to move money internationally" through money transfer services. A strong line of communication, backed by warm and caring customer service, will top all this, he said.
Customers of NBSC have been introduced to JNBS's state-of-the-art Phoenix Banking System, as well as a computerised banking processing network, which has enhanced the Society's ability to anticipate and respond more effectively to customer needs and those of the larger marketplace. The banking system facilitates speedy processing of transactions, shorter waiting time in bank lines and more personalised customer service.
Another special service that NBSC now offers is the e-money transfer banking facility, a software designed by Management Control Systems (MCS), a JNBS subsidiary, in collaboration with Microsoft. E-money provides a quick, easy, confidential and secure way to send money to and from countries in which JNBS has its operations.
General manager of NBSC, Don Kennedy, says the main goal of NBSC is to "encourage savings among customers primarily to help them acquire homes (and) manage the savings of customers prudently with the interest of savers in mind."
As a premier service institution, JNBS carries to the Cayman Islands a commitment, entrenched in its values statement, to provide innovative, high value products and services delivered in a courteous and personalised manner. It is also committed to full compliance with all relevant laws and regulations governing its operations and a pledge of good corporate citizenship.
