Press Releases 08-
Banks Are Collecting Coins
Press Release No. : 08/2006
Date : 28 April 2006
People in Fiji are being asked to bring their Fiji coins into banks around the country from May 2 as a major effort to upgrade the quality of the coins in the country. Reserve Bank of Fiji (RBF) Governor, Savenaca Narube said that the exercise was a joint effort between the RBF and the Association of Banks in Fiji. He said that one may not have to be a bank customer to exchange Fiji coins for paper money.
“This is an opportunity to clear out surplus Fiji coins and convert them into paper money that one can either take away or deposit in his or her account,” he said. “This is a Fiji-wide exercise that includes all of us. The banks have been geared up to receive the Fiji coins on Tuesdays, Wednesdays and Thursdays to the tellers.”
Those bringing the Fiji coins have been asked to separate them by denomination. “We want to make sure that the process is quick and comfortable and so we have made it a requirement for those who bring in $5 or more to separate them either in coin wrappers or in separate bags.
This will speed up the process.” said Mr. Narube. The Chairman of the Association of Banks in Fiji, Mr Irfan Rabbani said all commercial banks in Fiji fully support this initiative and they are ready to receive surplus coins from the public and the business community in order to achieve the mutually agreed objective.