Welcome to the Reserve Bank of Fiji’s Public Awareness column. In our previous articles we introduced the importance of Financial Inclusion in contributing to economic growth, financial stability and reducing poverty. This week, we will discuss Fiji’s Financial Inclusion Strategic Plan.
Last month the Governor of the Reserve Bank, Barry Whiteside, who is also the Chairman of the National Financial Inclusion Taskforce officially, launched Fiji’s Financial Inclusion Strategic Plan. The five year strategic plan is aimed at advancing financial inclusion in Fiji through a collaborative and coordinated approach.
Fiji is one of many countries in the past decade that have recognised the importance of financial inclusion as a development agenda. A World Bank Study in 2012 counted over 60 countries with established formal targets and strategic plans for financial inclusion.
Fiji’s National Financial Inclusion Strategic Plan is linked to the Government’s mid and long term development plans. This document is very important as it specifically focuses on the development of financial inclusion and allows all stakeholders to align their activities to this Plan.