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The unpresented increase of bank failure in Jamaica during the past decade raises several questions regarding the safety and soundness of the banking industry.Often, failure of a bank can be avoided, or the bailout costs minimized by the early detection of a bank's troubled status and subsequent intervention by regulatory authorities.The key to this effort us the use of sound governance practices within which the regulatory bodies operate and the identification of the bank's potential for failure.This study investigated, identified and analyzed the financial sector governance practices before and after the 1996 banking crisis in Jamaica. The methodology involved a two pronged approach. One approach involved the collection, analysis and interpretation of historical financial data. The second approach was the use of focus group interviews, interviews with government officials and a general manager Credit Union and seminar presentations to obtain qualitative data from key decision makers and people who are active in the field.The findings of this study indicated that reform was required in at least eight basic areas of: {a} prudential supervision of banks, {b} accounting
About the author
Neville Swaby, DBA International Business en Argosy University, MBA General en Barry University BBA Double Major Florida International University Profesor asociado jubilado, decano asociado en la Universidad de Tecnología, Jamaica
