Barclays (UK) has closed accounts of account holders with Jamaican addresses in a bid to lower risk and shore up core operations.
The latest move, effective from 11 September 2015, will impact about 450 clients, who will be given a grace period of a month to make other banking arrangements.
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In 2013, the British banking major announced plans to focus on core 70 markets across the globe in an effort to reduce complexity of operations.
The bank has excluded Jamaica from the list of core markets citing that it is too risky due to money laundering concerns.
Meanwhile, Jamaica National Building Society (JNBS) in a statement said it will be offering transactional services to the affected clients.
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