Press Release No 18 –
RBF announces set up of Financial Systems and Compliance Office
Press Release No. : 18/ 2009
Date : 24 April 2009
The Reserve Bank announces the set up of a Financial Systems and Compliance Office (FSC Group) with effect from Monday 27 April 2009. This office will be headed by a Chief Manager, Mr Filimone Waqabaca who is currently on secondment to the International Monetary Fund will head this office.
One other Senior Officer plus 3 analysts and support staff will shortly be recruited.
The FSC Group will play an important development and monitoring role in the following critical areas:
- Microfinance
- Financial Institution Complaints
- Fees and Charges
- Remittances
- Demonopolisation of the Fiji National Provident Fund
- Local Advisory Boards for Banks
- Small Medium Enterprises (SME)
- Rural Banking • Financial Literacy