Archive for August 7th, 2010
Jamaica National buys QuikCash
(Jamaica Observer): JN Money Services Limited (JNMS) and its sister organisation, the National Building Society of Cayman, have bought First Financial Caribbean Limited (FFCL) and First Financial Caribbean Jamaica Limited (FFCJL), which were subsidiaries of the First Financial International Group Limited, and operators of the QuikCash & SunMoney brands. This acquisition should see Jamaica National deepen its presence in the Cayman Islands at a time when the implementation of the Jamaica Debt Exchange (JDX) and a contracting economy has hindered its performance in its home market. The sale agreement was signed last week at JN Money Services Limited, in Kingston. (Photo: Delroy Howell Chairman of FFIG signs the deal).
"This acquisition solidifies JN Money Services’ position as a major player in the international remittance market, and provides the basis on whichwe can explore other ventures," Leesa Kow, General Manager of JNMS said following the signing.