The Ministry of Industry, Investment, and Commerce is working to resolve banking issues that have been impacting Jamaica’s medical cannabis industry. Many major banks are reluctant to fund the growth of medical cannabis out of fear of breaching federal laws in the United States of America (USA). As a result, businesses are unable to attract financing, without which they cannot be licensed. State Minister, Dr. the Hon. Norman Dunn, said discussions are taking place, “at various levels… because we believe that we need to solve this issue.” He said local banks were invited to participate in a virtual meeting on the matter last week.
Sean Hocking, Cannabis Law Report, 11/09/2020 22:41:16