Press Release No 6 –
COMPLAINTS MANAGEMENT FORUM
Press Release No. : 06/2013
Date : 27 March 2013
The Reserve Bank of Fiji (RBF) held its first Complaints Management Forum (Forum) meeting for 2013 on 25 March. The Forum was established as part of the Complaints Management Policy framework set in 2010 and has since met five times.
The Policy required all RBF licensed financial institutions to establish a Complaints Management framework to resolve complaints lodged against them by customers. Customers may lodge a further complaint with the Reserve Bank when they are not satisfied with the outcome of their complaints against the financial institutions.
The Forum acts in an advisorial role to the RBF and comprises 12 members, who are representatives from financial institutions, consumer advocates, regulatory bodies and other relevant organisations. The Chairman of the Forum is Mr Himmat Lodhia, President of the Fiji Retailers Association.
The Forum specifically looks at the establishment of an effective complaints management environment that is workable and sustainable for stakeholders and ensures that stakeholders appreciate and understand their role in the complaints environment and that consumer complaints are heard and addressed.
Under its Terms of Reference, the Forum is required to meet every quarter and its next meeting is scheduled for the end of June 2013.
In its meeting, the Chairman Mr Lodhia advised that the Forum endorsed its proposed workplan for 2013, in which further strategies have been developed to address consumer complaints and awareness. He also stated that such a forum is beneficial to the financial institutions and customers as it discusses issues that are systemic in nature and that help resolve complaints effectively and efficiently.
Quarterly statistics from 2010 regarding complaints received against licensed financial institutions are posted on the RBF website for information (Complaints Update Data Reserve Bank of Fiji). The Governor of the Reserve Bank, Mr Barry Whiteside acknowledged the contribution and support of all members of the Forum in ensuring consumer complaints against the licensed financial institutions take priority and are effectively and efficiently addressed and resolved.