Jamaica credit-card balances rise 3.5% as Monolith opens Kingston branch

Credit-card balances in Jamaica’s commercial banks rose 3.5 per cent to J$94 billion between December 2025 and April 2026, according to the Bank of Jamaica, an increase of more than J$3 billion over four months.

The central bank attributed most of the growth to Jamaican-dollar cards, whose outstanding balances climbed 5 per cent to J$86.5 billion. US-dollar card debt fell 2.4 per cent to the equivalent of J$8.2 billion. Interest on local-currency cards runs from 37 to 52 per cent a year, while US-dollar cards carry rates of 17 to 22 per cent.

Separately, Monolith Financial Services, the wholly owned unit of microlender MFS Capital Partners, opened a branch at 121 Windward Road, Kingston 2, on July 22, 2026. The office will start with Western Union money transfers, with further products to follow. Monolith is a sub-agent for Lasco MoneyGram and Western Union, and the move forms part of MFS Capital Partners’ expansion plans.

On the stock market for July 27, 2026, R. A. Williams Distributors Limited led activity with 10,984,131 units, or 41.52 per cent of market sales. Wisynco International Limited traded 3,230,857 units (21.21 per cent), and TransJamaican Highway Limited 3,198,955 units (12.09 per cent). Buying stayed focused on transport and distribution names.

Bank of Jamaica foreign-exchange data for the same day showed the US dollar selling at J$159.36 and buying at J$157.47. The Canadian dollar sold at J$113.30 and bought at J$112.42, an 88-cent spread. The British pound sold at J$212.99 and bought at J$210.07, leaving banks a margin of about J$2.92.