Hope for cannabis growers
Jamaica to lobby US on correspondent banking rules
Friday, May 31, 2019
Jamaica is to lobby the United States on the issue of legitimising licensed cannabis growers and processors under correspondent banking rules. Audley Shaw — Jamaica's minister of industry, commerce, agriculture, and fisheries — raised the matter in his address on plant medicine and cannabis at the Global Health Catalyst Summit at Harvard Medical School in Boston, Massachusetts. Shaw noted that financial institutions in Jamaica and many international jurisdictions do not allow banking transactions for legally licensed medical cannabis companies because of the restrictions imposed by United States banks in their correspondent banking arrangements.