Shaw sees glimmer of banking hope for ganja businesses

Banks and other financial institutions can work directly with state-legal cannabis businesses
Jamaica Observer (Jamaica)
Friday, September 27, 2019

dollar cannabis2Minister of Industry, Commerce, Agriculture and Fisheries, Audley Shaw, has welcomed news of the passage of the SAFE Banking Act in the United States, which could lay the foundation for addressing correspondent banking issues that remain a major challenge for legal cannabis producers. Director of the Cannabis Licensing Authority (CLA), Delano Seiveright, was quick to add that it “is still early days”. “It really is a huge development, as the issue of lack of access to banking for legal cannabis businesses represents a juggernaut for many in the legal industry globally, and particularly in Jamaica where our legal cannabis industry is literally being stifled."