MICROCAPITAL BRIEF: All Commercial Banks in Fiji Establish “Microfinance Units”

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Thursday, July 29, 2010

MICROCAPITAL BRIEF: All Commercial Banks in Fiji Establish “Microfinance Units”

» Posted by in Category: Regulation,Transparency,Trends/Challenges at 12:03 am

The Reserve Bank of Fiji (RBF) has reportedly completed an initiative in which all commercial banks in Fiji have complied with a requirement to establish a “microfinance unit.” Sada Reddy, Governor of RBF, comments that, “All banks have now set up microfinance [units] in their branches and [a] number of them have taken additional [steps to include microfinance] activities in their bank[ing].”

Mr Reddy additionally commented that he hopes Fiji’s expanded microfinance industry will encourage investors who may wish to invest in Fiji’s financial sector.

RBF was established in 1983 as Fiji’s central banking authority and had total assets of USD 1.26 billion as of May 2010. There is no information available on the number of banks that RBF oversees.

By Julia Korn, Research Associate

About The Reserve Bank of Fiji (RBF):

Established in 1983, the Reserve Bank of Fiji (RBF) is the nation’s central banking authority. RBF’s statutory authority includes the following: to regulate the financial sector, to promote monetary stability and to foster balanced macroeconomic development of the country as a whole. As of May 2010 it had total assets of USD 1.26 billion. There is no information available on the number of banks that RBF oversees.

Sources and Additional Resources:

[1] Fiji Government Online Portal. “RBF places emphasis on micro-finance” on July 27, 2010. http://www.fiji.gov.fj/index.php?option=com_content&view=article&id=2004….

MicroCapital Universe. Reserve Bank of Fiji (RBF). http://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Reserve+Bank+of+Fiji+%28RBF%29

MicroCapital. “MICROCAPITAL BRIEF: The United Nations’ Pacific Financial Inclusion Program (PFIP) Releases “Fiji Financial Services Sector Assessment” Calling for Expansion of Microfinance Sector, Especially Through the Development of Accessible Savings Services” by Conner Brannen on June 8, 2010. http://www.microcapital.org/microcapital-brief-the-united-nations-pacifi…

Browse the MicroCapital Universe and add your entry to the wiki at http://www.microcapital.org/microfinanceuniverse/

MICROCAPITAL BRIEF: All Commercial Banks in Fiji Establish “Microfinance Units”

The Reserve Bank of Fiji (RBF) has reportedly completed an initiative in which all commercial banks in Fiji have complied with a requirement to establish a “microfinance unit.” Sada Reddy, Governor of RBF, comments that, “All banks have now set up microfinance [units] in their branches and [a] number of them have taken additional [steps to include microfinance] activities in their bank[ing].”

Mr Reddy additionally commented that he hopes Fiji’s expanded microfinance industry will encourage investors who may wish to invest in Fiji’s financial sector.

RBF was established in 1983 as Fiji’s central banking authority and had total assets of USD 1.26 billion as of May 2010. There is no information available on the number of banks that RBF oversees.

By Julia Korn, Research Associate

About The Reserve Bank of Fiji (RBF):

Established in 1983, the Reserve Bank of Fiji (RBF) is the nation’s central banking authority. RBF’s statutory authority includes the following: to regulate the financial sector, to promote monetary stability and to foster balanced macroeconomic development of the country as a whole. As of May 2010 it had total assets of USD 1.26 billion. There is no information available on the number of banks that RBF oversees.

Sources and Additional Resources:

[1] Fiji Government Online Portal. “RBF places emphasis on micro-finance” on July 27, 2010. http://www.fiji.gov.fj/index.php?option=com_content&view=article&id=2004….

MicroCapital Universe. Reserve Bank of Fiji (RBF). http://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Res…

MicroCapital. “MICROCAPITAL BRIEF: The United Nations’ Pacific Financial Inclusion Program (PFIP) Releases “Fiji Financial Services Sector Assessment” Calling for Expansion of Microfinance Sector, Especially Through the Development of Accessible Savings Services” by Conner Brannen on June 8, 2010. http://www.microcapital.org/microcapital-brief-the-united-nations-pacifi…

Browse the MicroCapital Universe and add your entry to the wiki at http://www.microcapital.org/microfinanceuniverse/

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