USD Tax Free Investment

FOREIGN CURRENCY "A" ACCOUNT
A foreign currency "A" account can be either a savings or an interest bearing fixed deposit account held at First Global Bank Ltd. Accounts must be denominated in a foreign currency and must be opened with funds, which originate outside of Jamaica. These funds may be wire transferred directly to FGB or may be in the form of a draft drawn on a foreign branch of a reputable international bank.

Accounts are held in the names of non-resident individuals or companies only. Funds are deposited for a fixed period at a fixed interest rate, repayable at a fixed future date or upon prior notice. The deposit period may range from a minimum term of 14 days to a maximum term of one year. The minimum amount that is required to open an account is USD 1,000.00, CDN 1,000.00 or GBP 1,000.00.

Characteristics:

• Minimum opening balance of $1,000.00
• Terms are negotiable from a minimum of 30 days and can vary between 60, 90 and 365 days.
• Rates are fixed for designated time periods.
• Insured up to JA$300,000.00 by the Jamaica Deposit Insurance Corporation.

Documentation:
On opening the account a receipt and a Certificate outlining the terms and conditions of the account are issued to the customer.

Deposits and Withdrawals:
The customer may withdraw funds before the expiry of the deposit term if the funds had been received at FGB via wire transfer and had been on deposit at FGB for at least fourteen days. If the initial deposit had been via a bank draft, no withdrawals are allowed until the hold funds period of thirty (30) days has elapsed. Withdrawal of funds before the expiration of the deposit term may result in a reduction in the rate of interest paid on the account. No funds may be deposited to an account during its term.

Interest:
The interest rate on these accounts is fixed for the term, except when the account is encashed prior to the maturity date, which may result in a reduction in the interest rate. Interest is calculated on the daily balance and is applied at maturity or closure of the account.

Withholding Tax:
The interest earned on these accounts is not subject to the deduction of withholding tax.

Maturity:
On maturity, unless written instructions have been received from the customer to the contrary, interest will be capitalised and the deposit will be automatically renewed for a similar period and at the prevailing rate of interest being paid by FGB on Foreign Currency "A" Accounts. You are required to return the expired non-negotiable certificate to FGB at maturity and FGB will issue a new certificate for the new principal amount.

Other Benefits:
Account holders are guaranteed repayment in the currency of the original deposit. Repayment may also be made in another currency subject to exchange rate and currency availability at maturity date.

Foreign currency "A" Accounts are subject to regulatory requirements. Interest rates vary according to money market conditions.

FOREIGN CURRENCY 366 "A" ACCOUNTS
A 366 days A account is an interest bearing foreign currency account in which funds are deposited with First Global Bank Limited for a minimum term of 366 days. The funds used to open this account must originate outside of Jamaica and must be wire transferred directly to the Bank. A draft drawn on a foreign branch of a reputable international bank may also be used to open this account. Accounts are held for non-resident individuals or companies only. Account holders are required to submit proof of their non-resident status to FGB when opening an account. The minimum amount required to open this account is USD$50,000.00 or CAD$ 75,000.00 or STG 40,000.00. These accounts are free from withholding taxes. Interest is calculated on daily balances and credited quarterly.

Documentation:
On opening the account the customer will be issued a Receipt and a Certificate outlining the terms and conditions of the account.

Deposits and Withdrawals:
The client may withdraw funds before the expiry of the deposit term if the funds had been received via wire transfer and has been on deposit for at least fourteen days. If the initial deposit had been via bank draft, no withdrawals are allowed until the funds are cleared. Withdrawal of funds before the expiration of the term will result in a reduction of at least 3% on the rate of interest paid on your account.

Interest:
The interest rate on these accounts is fixed for the term. Interest is calculated on the daily balance and is applied on a quarterly basis as at March 31, June 30, September 30, December 31, and at maturity.

Withholding Tax:
Interest earned on these accounts is not subject to the deduction of withholding tax.

Deposit Insurance:
These accounts are insured by the Jamaica Deposit Insurance Corporation up to a maximum of JAD 300,000.00 per customer.

Maturity:
On maturity, unless written instructions have been received from the customer to the contrary, interest will be capitalised and the deposit will be automatically renewed for a similar period and at the prevailing rate of interest being paid by the bank on 366 A Accounts. The customer is required to return the expired certificate to the bank at maturity and the bank will issue a new certificate for the new principal amount.

Other Benefits:
The account holder is guaranteed repayment in the currency of the original deposit. Repayment may also be made in another currency subject to exchange rate and currency availability at maturity date. Account holders are eligible to borrow up to 80% of the principal amount on deposit after 6 months, at preferential rates, subject to eligibility requirements and credit approval by the Bank.

366A Accounts are subject to regulatory requirements. Interest rates may vary according to money market conditions.