Caribbean Graduate School of Theology flyer advertising its workshops, including a course in foreign-exchange trading.

The Bank of Jamaica has distanced itself from a foreign exchange trading seminar that a related party at the central bank was advertised to present.

On Friday, the Caribbean Graduate School of Theology said the workshop would proceed as advertised. It was scheduled for Saturday.

Sunday Business learned late Friday that the scheduled presenter had been pulled.

"The Bank of Jamaica has noted that an article appearing in The Financial Gleaner of November 23, 2007 and entitled 'Theology school to train pastors in forex trading' reports an inaugural seminar by the Caribbean Graduate School of Theology as being presented by an employee of the Bank of Jamaica," said the central bank statement issued Friday. "The Bank of Jamaica has been unable to verify the accuracy of the report."

BoJ distanced

The statement went on to advise that the BoJ was "not associated in any way with the presentation of this seminar."

The graduate school, which trains pastors, said it had introduced the course in response to demand by students.

Investment schemes have been growing in popularity in Jamaica since Olint Corpo-ration first launched into business. Cash Plus, however, has popularised the schemes among small investors.

On Friday, BoJ also warned that foreign-exchange trading was a regulated practice, requiring its authorisation.

"The bank also takes this opportunity to remind the public that buying or selling foreign currency as a business is an activity that requires specific approval either as an authorised dealer or as a cambio under the Bank of Jamaica Act," it said.

"Breaches of the act in this regard constitute an offence for which a person is liable to prosecution."

business@gleanerjm.com