The Jamaica Bankers Association (JBA) has cited high implementation costs and low customer uptake among factors that have slowed adoption of the central bank’s digital currency, JAM-DEX, by deposit-taking institutions. Bank of Jamaica (BOJ) Governor Richard Byles on Tuesday criticised banks for their slow rollout, noting that Jamaica is pursuing a modern, less cash-dependent society. JAM-DEX was introduced in 2021 and rolled out in phases from 2022, but uptake has been limited.