Press Release No 7 –
Reserve Bank of Fiji Encourages Student to Save and Invest
Press Release No. : 07/2015
Date : 27 February 2015
The Reserve Bank of Fiji is calling on students to develop a habit of planning ahead, saving and investing wisely. The Reserve Bank today distributed copies of the 2015 Student Diary to Dawasamu Secondary School students in Tailevu. The Governor of the Reserve Bank, Mr Barry Whiteside said the Student Diary is a useful and practical tool, designed to assist the students with their daily and future plans.
The Governor commended the Ministry of Education, Fiji Development Bank, Pacific Financial Inclusion Program, commercial banks and other financial institutions that provide critical support in improving financial literacy and access to financial services in Fiji. He noted that these initiatives are already bearing fruit, highlighting the Ministry of Education report on the value of students’ savings and investment in 2014 for the Fiji Development Bank funded “Money Smart” program had increased to $628,398 from $453,302.87 in the previous year.
“We encourage students to be proactive and take advantage of their time in school to plan ahead, and to get into saving and investing early in their life. There are many benefits and rewards to be gained for those who invest for the long term.”
The Reserve Bank has been publishing and distributing Student Diaries since 2011 as part of its initiative to promote financial education and awareness in the community. The Reserve Bank will continue to work closely with Government and other national stakeholders under the National Financial Inclusion Taskforce in developing and implementing policy initiatives to support financial inclusion in Fiji. .
Fiji is one of the few countries in the world, which has integrated financial education into the formal school curriculum at all levels. Financial education has been taught in all Fiji schools from years one to 12 since 2013.