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When The Bank of Nova Scotia first planted its roots in Jamaica in 1889, banking on the island was about 50 years old. In those 50-odd years, a number of other banks had come and gone.
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Until the abolition of slavery on August 1, 1834, there had been little need for banks in Jamaica. The merchants soon began to see the advantage of having a local bank where bills of exchange could be converted to drafts in sterling, which would be more readily accepted by their creditors abroad. Mac lipsticks for brown skin tone. A barter trade had long existed between the province of Nova Scotia in Canada and Jamaica. As trade expanded in Jamaica during the middle of the 19th century, the limitations of the bartering system became increasingly apparent. The establishment of a branch of The Bank of Nova Scotia in Kingston, Jamaica therefore provided the best means of placing the trade on a monetary basis, and so The Bank of Nova Scotia was born.
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Our Bank has survived the great earthquake that shattered Kingston in January 1907. In the 1930's there had been social, political, and economic changes with the advent of Marcus Mosiah Garvey, and the establishment of the two-party political system as successive constitutional changes brought adult suffrage, self-government and in 1962, Jamaica's full independence as a member of the British Commonwealth of Nations.