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A new Fiji body set up to spearhead the government’s microfinance campaign wants 150,000 people in Fiji to have access to banking services by 2014.
The goal has been set by the 11-member National Financial Inclusion Taskforce chaired by Reserve Bank of Fiji (RBF) governor Sada Reddy, with members from banks, micro finance organisations and the business community.
“The goal of the task force is to reach 150,000 unbanked clients by 2014 through a nationally coordinated effort, supported by a variety of financial service providers, offering a broad range of relevant, accessible, affordable and cost effective financial services,” said Filimoni Waqabaca, RBF’s Chief Manager Financial Systems, Development and Compliance.
“The overall goal is to reach 150,000 new clients. I think that is just one third of the number that’s still there perceived to have not been reached through financial services. But we will start with 150,000 and if we achieve more, it will be good progress,” he added.
Waqabaca said the taskforce, formed after a national symposium on micro finance held in August last year, has as its core vision the provision of financial services to every one in Fiji, “regardless of economic situation or geographical location.”
“The vision is: for all Fiji citizens, regardless of economic situation or geographical location, to have access to appropriate, affordable financial services that help individuals and households increase their financial security and provide greater opportunities
for sustainable livelihood for communities in Fiji. Financial service providers are to provide these financial services on a sustainable basis.”
This, he said, will go a long way towards poverty alleviation in Fiji.
