Key Milestones to Fiji’s Financial Inclusion Journey
|August 2008||Regional leaders and central bank governors support the Coombs Declaration which recognises the importance of financial literacy, consumer empowerment and financial inclusion to support economic development and financial deepening in the Pacific Island countries.|
|April 2009||RBF announces that all commercial banks set up microfinance service centres in all their branches by January 2010.
RBF Press Release (No. 16/2009).
|April 2009||Financial System Development and Compliance Group established and headed by a Chief Manager tasked with the development of financial inclusion, amongst other responsibilities.
RBF Press Release (No. 18/2009).
|July 2009||RBF Governor’s Opening Address at Pacific Microfinance Week highlights plans by RBF to support financial inclusion.|
|July 2009||RBF joins Alliance for Financial Inclusion (AFI) Global Policy Network.|
|August 2009||Fiji Financial Intelligence Unit (FIU) issued new guidelines to facilitate customers’ access to financial services through simplified Know Your Customer (KYC) minimum identity (ID) requirements for low risk customers such as rural dwellers, farmers, students, senior citizens.
RBF Press Release (No. 33/2009).
|September 2009||RBF participates at the 1st AFI Global Policy Forum (GPF) in Nairobi, Kenya.|
|September 2009||RBF Governor delivers Opening Speech at the 2nd Pacific Credit Union Technical Congress 2009, Nadi.
RBF Press Release (No. 38/2009).
|November 2009||RBF with PFIP host the National Microfinance workshop at Novotel Hotel in Lami, Suva. The watershed event saw the development of a medium term strategy for financial inclusion and the establishment of a collaborative and partnership model through a National Financial Inclusion Taskforce (NFIT). NFIT was tasked to coordinate and monitor the overall target of reaching 150,000 unbanked by 2014 and guide the development of financial inclusion in Fiji.|
|December 2009||RBF Press Release (No. 49/2009) announces the issuance of policy guidelines to commercial banks to establish microfinance units at every Bank branch, complaints management framework and local advisory boards. The three policy guidelines were effective from 1 January 2010.|
|February 2010||NFIT holds its first meeting.
RBF Press Release (No. 3/2010).
|February 2010||1st AFI Pacific Islands Working Group (PIWG) meeting co-hosted by Reserve Bank of Vanua in Port Vila.|
|May 2010||ADB assessment study “Microfinance and Microinsurance Opportunities and Challenges in Fiji” released.|
|May 2010||RBF Governor attend 2010 Groupe Speciale Mobile Association Mobile Money Summit in Rio de Janeiro, Brazil.|
|June 2010||RBF launches e-Money Fiji Project to support the development of digital finance in Fiji.
RBF Press Release (No. 22/2010).
|June 2010||RBF and NFIT host the first Microfinance Exposition in Ba Town.
RBF Press Release (No. 23/2010).
|June 2010||NFIT holds its 2nd Meeting in Ba and announced that it supports the Report, by the New Zealand based Young Enterprise Trust (YET) Consultants, on how Fiji can intergrate financial education into the school curriculum from primary to secondary school levels.
RBF Press Release (No. 24/2010).
|June 2010||RBF hosts luncheon seminar with the founder of Basix Group in India Vijay Majahan for knowledge sharing with financial inclusion stakeholders.|
|June July 2010||Vodafone and Digicel launch mobile money services for the first time.|
|July August 2010||RBF staff and Microfinance Institution representatives attend Boulder Institute of Microfinance Training Program in Turin, Italy.|
|August 2010||2nd AFI PIWG meeting co-hosted by Reserve Bank of Fiji, Nadi, Fiji.|
|August 2010||Pacific Islands Central Bank Governors meet in Nadi to discuss how to promote financial inclusion in the Pacific.|
|August 2010||RBF hosts Mobile Money Workshop in conjunction with AFI, CGAP and Pacific Financial Inclusion Programme (PFIP) for national stakeholders in Suva.|
|August 2010||RBF launches Green Ribbon Campaign to promote financial literacy.
RBF Press Release (No. 28/2010).
|August 2010||RBF hosts the first Microfinance Village at Albert Park during the Hibiscus Festival.|
|September 2010||RBF attends 2nd AFI Global Policy Forum in Bali, Indonesia.|
|September 2010||Bank of Indonesia hosts the 3rd PIWG meeting in Bali, Indonesia.|
|September 2010||RBF hosts Microfinance Expo in Labasa.
RBF Press Release (No. 37/2010).
|December 2010||The South Pacific Business Development (SPBD) Microfinance (Fiji) Ltd begins its operations in Fiji.|
|January 2011||NFIT holds its 3rd meeting.|
|January 2011||Westpac Banking Corporation in collaboration with Ministry of Women and Social Welfare launches and distributes social welfare payments bank cards in Fiji.|
|February 2011||Special NFIT meeting to review findings from the ADB Report on “Microfinance in Fiji – Opportunities and Challenges.”|
|February 2011||Fiji Financial Education Curriculum Development Project official launch by the Minister for Education, Filipe Bole.|
|March 2011||Central Bank of Samoa co-host the 4th PIWG in Apia, Samoa.|
|March 2011||Stakeholders review financial inclusion progress and how to take it to the next level.
RBF Press Release (No. 4/2011).
|March 2011||RBF and financial inclusion stakeholders hold the first Maritime Financial Inclusion Exposition covering Savusavu, Taveuni, Koro, Levuka and Gau. RBF RBF Press Release (No. 5/2011).|
|Regional Supervision Workshop for non-banks held.
RBF Press Release (No. 9/2011).
|April 2011||LICI launches Microinsurance Product.
|July 2011||Reserve Bank of Vanuatu co-hosts 5th PIWG.|
|July August 2011||RBF and MFI representatives attend Boulder Institue of Microfinance Training Program in Turin, Italy.|
|August 2011||Launch of “Vuli the Vonu” Fiji’s Financial Literacy Mascot.|
|August 2011||NFIT holds its 4th meeting.|
|August 2011||RBF at the invitation of Government conducts onsite inspection of government funded microfinance institutions.|
|August 2011||RBF and PFIP launch “Financial Inclusion in Fiji – An Evolving Story” a video documentary.
Refer to: https://www.youtube.com/watch?v=2d3aAefj9ws
|August 2011||RBF hosts the Microfinance Village at Albert Park during the Hibiscus Festival.|
|September 2011||Vodafone M-PAiSA Fiji launches its first cross-border international remittance to allow Vodafone mobile phone users in Fiji to receive money from relatives and friends in Australia and New Zealand.|
|September 2011||RBF make commitments to financial inclusion at the 3rd AFI Global Policy Forum in Cancun, Mexico, as part of the Maya Declaration, and is amongst the initial 17 countries that are part of the first global measureable commitments at the AFI Global Policy Forum in Mexico.
Refer to: https://www.youtube.com/watch?v=WgRi4YG4pYs
|September 2011||Comisión Nacional Bancaria de Valores (CNBV) and Superintendencia de Banca, Seguros y AFP co-hosts the 6th PIWG meeting at the 2011 Global Policy Forum in Riviera Maya, Mexico.|
|September 2011||RBF participates at the Asia Pacific Financial Inclusion Forum: Expanding Financial Access Through Regional Public-Private Cooperation organised by the Asian Development Bank Institute and The APEC Business Advisory Council at the Asian Development Bank Institute in Tokyo, Japan|
|September 2011||Central Bank of Solomon Islands knowledge exchange visit to RBF to learn about FinEd and NFIT.|
|October 2011||Digicel Mobile Money in partnership with KlickEx, launch their web to mobile wallet money transfer to facilitate cross border remittances from Australia and New Zealand.|
|November December 2011||A National Survey to assess financial competency of low income households is conducted.
RBF Press Release (No. 30/2011).
|December 2011||NFIT holds its 5th Meeting in Suva.|
|January 2012||Bank of Papua New Guinea co-hosts the 7th PIWG meeting in Port Moresby, Papua New Guinea.|
|March 2012||NFIT holds its 6th Meeting in Suva.|
|May 2012||RBF and NFIT host Microfinance Expo at Korovou, Tailevu.|
|May 2012||RBF attends 4th FINTWG meeting in Lilongwe, Malawi co-hosted by Reserve Bank of Malawi.|
|June 2012||Reserve Bank of Fiji co-hosts the 8th PIWG in Nadi.|
|July 2012||Pan-Pacific Regulators Workshop: Making Insurance Work for the Poor, Nadi.|
|July 2012||3rd Pacific Microfinance Week, Port Vila, Vanuatu – Fiji delegation share their experience of financial inclusion initiatives in Fiji.|
|August 2012||RBF and WBC representatives attend Boulder Institute of Microfinance Training Program in Turin, Italy.|
|August 2012||NFIT holds its 7th meeting in Suva.|
|August 2012||VISA in partnership with NFIT sponsors Financial Literacy Awareness Radio Campaign.|
|August 2012||RBF and NFIT host the Financial Inclusion Village during the annual Vodafone Hibiscus Festival.|
|August 2012||Knowledge Exchange visit by Bank of PNG to RBF to learn about financial inclusion expositions.|
|September 2012||RBF and PFIP organise National Financial Competency Development Workshop to discuss the findings from the financial competency survey.
RBF Press Release (No. 27/2012).
|September 2012||RBF participates at 4th AFI Global Policy Forum in Cape Town South Africa.|
|September 2012||South African National Treasury co-hosts the 9th PIWG and 5th FINTWG meetings in Cape Town, South Africa.|
|October 2012||RBF and NFIT host the Financial Inclusion Village at Sigatoka Koro.|
|December 2012||RBF issue Agent Banking Guidelines for Commercial Banks with the aim of improving financial access in remote and rural areas.
RBF Press Release (No. 38/2012).
|December 2012||NFIT holds its 8th Meeting in Suva.|
|February 2013||RBF attends 10th AFI Pacific Islands Working Group Meeting (PIWG), Honiara, Solomon Islands.|
|February March 2013||RBF participates at the Building Sustainable Microfinance: The Global-Local Experience, Pullman Hotel, Auckland, New Zealand.|
|March 2013||RBF attends AFI Financial Inclusion Strategy Peer Learning Group 2nd Meeting and SME Finance Policy Makers’ Roundtable, Okura Prestige Hotel, Bangkok, Thailand.|
|March 2013||NFIT holds its 9th Meeting in Suva.|
|April 2013||RBF participates at PIWG Data Subgroup Meeting in Apia, Samoa.|
|May 2013||RBF team participates in a Knowledge Exchange Visit to Brazil and Mexico on Agent Banking.|
|May 2013||RBF attends Bank Negara Malaysia (BNM) – AFI Capacity Building Programme Access to Financial Services for the Micro, Small and Medium Enterprises Sector, Kuala Lumpur, Malaysia.|
|July 2013||NFIT holds its 10th Meeting in Suva.|
|July 2013||RBF and NFIT host three financial inclusion expositions in Kadavu to raise awareness on financial inclusion.
RBF Press Release (No. 19/2013).
|July August 2013||RBF and representatives from the private and public sector attend Boulder Institute of Microfinance Training Program in Turin, Italy.|
|August 2013||RBF participates at the Insurance Regulators Workshop on Supervision on Microinsurance in Nadi.|
|August 2013||RBF participates at the Universal Standards for Social Performance Management (USSPM) for Microfinance and Client Protection Principles (CPP) Workshop at the Holiday Inn, Suva.|
|August 2013||RBF hosts the Financial Inclusion Village during the Vodafone Hibiscus Festival and officially launch be Money Wi$e, a programme to teach children money matters.|
|August 2013||RBF attends Business Conduct and Consumer Protection workshop in Sasana Kijang, Kuala Lumpur, Malaysia.|
|September 2013||RBF participates at 5th AFI Global Policy Forum – Kuala Lumpur, Malaysia.
Fiji is awarded the inaugral Maya Declaration Award by AFI.
RBF Press Release (No. 27/2013)
|September 2013||Bank Negara Malaysia co-hosts the 11th PIWG and 6th FINTWG meetings in Kuala Lumpur.|
|September 2013||Chief Manager Financial System Development Group delivers the Keynote Address at the 5th Pacific Credit Union Technical Congress, Nadi.|
|October 2013||NFIT holds its 11th Meeting in Suva.|
|October 2013||RBF Governor delivers Keynote Address at the 4th Pacific Microfinance Week, Sheraton Fiji, Denarau.|
|October 2013||RBF co-sponsors Inaugural National Microfinance Awards during the Pacific Microfinance Week at the Sheraton Fiji, Denarau, Nadi.
RBF Press Release (No. 31/2013).
|October 2013||Association of Financial Supervisors Annual Meeting reviews the oversight of credit unions, microfinance institutions and financial inclusion, Apia, Samoa.|
|November 2013||Cabinet endorses Fiji’s first National Financial Literacy Strategy.|
|November 2013||RBF Governor presents on Emerging Issues on Inclusive Finance for Growth and the Fijian Experience at the 49th SEACEN Governor’s Conference, High Level Seminar and 33rd Meeting of SEACEN Board of Governors in Nepal.|
|December 2013||28th South Pacific Central Bank Governors’ Meeting reviews financial inclusion and financial education developments in the region, Port Moresby, Papua New Guinea.|
|December 2013||NFIT holds its 12th Meeting in Suva.|
|March 2014||NFIT holds its 13th Meeting in Suva.|
|March 2014||The Reserve Bank of Fiji and Vuli the Vonu, present copies of the latest Reserve Bank of Fiji student diaries to Yat Sen Secondary School students.
RBF Press Release (No. 4/2014).
|RBF hosts the AFI 12th Pacific Islands Working Group (PIWG) Meeting and the 4th Financial Inclusion Peer Learning Group (FISPLG) Meeting, Denarau, Nadi.
RBF Press Release (No. 5/2014).
|April 2014|| NFIT supports the work of the microfinance sector.
RBF Press Release (No. 11/2014).
|May 2014||RBF participates at 2nd SME Finance Working Group (SMEFWG) meeting in Indonesia.|
|May 2014||RBF Governor makes Maya Declaration Commitment.|
|June 2014||NFIT holds its 14th Meeting in Suva.|
|June 2014||7th FINTWG meeting in Frankfurt, Germany.|
|July 2014||NFIT launches first Poverty Scorecard in the South Pacific. The scorecard also known as the Progress out of Poverty Index (PPI) is a simple country-specific poverty scoring tool which has been developed for 45 countries and used by more than 200 organisations involved in poverty alleviation.
RBF Press Release (No. 20/2014).
|July 2014||Mobile Money Providers sign Trust Deed that gives added assurance to customers.
RBF Press Release (No. 21/2014).
|August 2014||RBF host Financial Inclusion Village during Vodafone Hibiscus Festival for micro-entrepreneurs to display and sell their products and to interact with the Financial Service Providers.
RBF Press Release (No. 23/2014).
|August 2014||Financial Inclusion Village was set up at the Uluda Ground, Rakiraki with the theme of “Green Growth, Sustainable Livelihoods.”
Refer to: https://www.youtube.com/watch?v=3m6l2hztW20
|September 2014||RBF participates at 6th AFI Global Policy Forum, Port of Spain, Trinidad & Tobago.|
|September 2014||Central Bank of Trinidad & Tobago co-hosts the 13th PIWG, 8th FINTWG (1st as Global Standards Proportionality Working Group) meetings in Port of Spain.|
|September 2014||NFIT holds its 15th Meeting in Suva.|
|October 2014||RBF participates at the Access to Financial Services for the Micro Small and Medium Enterprise (MSME) Sector workshop in Sasana Kijang, Kuala Lumpur, Malaysia|
|October December 2014||Fiji undertakes National Financial Services Demand Side Survey Field work.
RBF Press Release (No. 27/2014).
|November 2014||RBF hosts the second National Microfinance Awards.
RBF Press Release (No. 30/2014).
|December 2014||National Reserve Bank of Tonga knowledge exchange visit to RBF on financial inclusion.|
|December 2014||NFIT holds its 16th Meeting in Suva.|
|February 2015||Launch of 2015 Student Diary at Dawasamu Secondary School. The Reserve Bank is calling on students to develop a habit of planning ahead, saving and investing wisely.
RBF Press Release (No. 7/2015).
|March 2015||Reserve Bank Awards three top essays in be Money Wi$e Essay Competition to mark Global Money Week. The theme of the competition was “be Money Wi$e – securing my future goals today”.
RBF Press Release (No. 10/2015).
|March 2015||NFIT holds its 17th Meeting in Suva.|
|May 2015||RBF participates at the Pacific Islands Regional Initiative (PIRI) Meeting in Timor-Leste.|
|May 2015||NFIT holds its 18th Meeting in Suva.|
|May 2015||Bank Negara Malaysia co-hosts 2nd GSPWG in Kuala Lumpur.|
|June 2015||Launch of the 2015 Microfinance Awards.|
|June 2015||Takeaways from Fiji’s Demand Side Survey
|June 2015||RBF participates at the Business Conduct and Consumer Protection workshop in Sasana Kijang, Kuala Lumpur, Malaysia.|
|July 2015||NFIT holds it 19th Meeting in Suva.|
|July 2015||be Money Wi$e program – Nasinu Financial Inclusion Expo.|
|July 2015||Reserve Bank of Fiji and VISA help improve financial literacy in the South Pacific with the launch of the NFITwebsite, designed especially for Fijians.
RBF Press Release (No 21/2015).
|September 2015||RBF attends 7th AFI Global Policy Forum , Maputo, Mozambique. AFI makes the announcement that Fiji will host the 8th GPF.|
|September 2015||Launch of Fiji’s Financial Services Demand-Side Survey Report.
RBF Press Release (No. 29/2015).
|September 2015||NFIT holds its 20th Meeting in Suva.|
|October 2015||NFIT holds it 21st Meeting in Suva.|
|October 2015||RBF attends the Europe and Central Asia (ECA) Regional Forum on Financial Inclusion Policy, Skopje, Macedonia|
|November 2015||RBF and PFIP host the National Financial Inclusion Strategy Consultation Workshop, Grand Pacific Hotel Suva.
RBF Press Release (No. 33/2015).
|November 2015||RBF hosts the third National Microfinance Awards at the GPH, Suva.|
|November 2015||RBF participates at the Pacific Islands Regional Initiative (PIRI) Meeting in Nukualofa, Tonga.|
|December 2015||RBF participates at the “Regulating the Revolution “Rethinking the Regulation of Digital Financial Services” in Sydney, Australia.|
|February 2016||RBF Governor launch 2016 Student Diary.
RBF Press Release (No. 2/2016).
|February 2016||Fiji Financial Inclusion indicators
|March 2016||Bankable Frontier Associates (BFA) interviews stakeholders for Regulatory Impact Assessment on RBF Financial Inclusion policies.|
|April 2016||RBF Governor deliver Welcome Address at the National Financial Inclusion Strategy Stakeholder Engagement Workshop, Holiday Inn – Suva|
|April 2016||RBF Governor deliver Welcome Address at the PFIP/PIRI/AFI Inclusive Insurance Workshop, Sofitel Hotel, Denarau – Nadi.|
|May 2016||Regulatory Impact Assessment Training for RBF staff by BFA Consultants at Tower 11 Training Room, RBF Building.|
|May 2016||RBF and other PIRI members participate at a regional SME Knowledge Exchange, Kuala Lumpur, Malaysia.|
|May 2016||RBF participates at the “Financial Inclusion Strategy & Data and the Forum on strengthening Maya declaration commiments via Sasana accord” in Kuala Lumpur, Malaysia.|
|June 2016||RBF participates at the AFI Pacific Islands Regional Initiative’s (PIRI) fourth Experts Group Financial Inclusion Policy (EGFIP) Meeting in Port Vila, Vanuatu.|
|June 2016||Upload of Fiji’s financial inclusion geospatial map.|