MJ Biz ahas the story. Jamaican regulators want to substantially reduce the amount of time it takes entrepreneurs to get a cannabis business license, but banking remains the biggest hurdle to the fledgling industry’s growth.
The Cannabis Licensing Authority (CLA) is in the final stages of a technical review of the entire licensing process.
“We really want to be able to say that it should take a maximum of six months to get your license in Jamaica.”“We’re doing a complete internal review on all of the steps we take in finalizing a licensee, approving the license,” said Floyd Green, minister of Industry, Commerce and Agriculture.
It currently can take up to two years for an applicant to become “conditionally approved,” a situation that has contributed to a backlog of 233 applications at that stage, according to the most recent data.
Jamaica looks to slash cannabis license processing time, but banking remains major obstacle
