‘ANZ-UnionPay Re­la­tion­ship to Ben­e­fit Fiji’

Fiji Sun - - Fiji Today - WAISEA NASOKIA Edited by Jy­oti Prat­i­bha Feed­back: waisean@fi­jisun.com.fj

Re­la­tion­ship forged be­tween ANZ and UnionPay will ben­e­fit Fiji, says At­tor­ney-Gen­eral and Fi­nance Min­is­ter Aiyaz Sayed-Khaiyum. The part­ner­ship was launched at Radis­son Blu Re­sort and Spa last night. Mr Sayed-Khaiyum also com­mented that Gov­ern­ment had very strong re­la­tion­ship with the ANZ Bank. He said that the part­ner­ship ar­range­ments be­tween ANZ and UnionPay will be great fa­cil­i­ta­tor in en­hanc­ing trade and com­merce with both coun­tries. ANZ has now opened its plat­form for Union Pay to op­er­ate from, mean­ing UnionPay ser­vices will be avail­able through ANZ ATM and EFTPOS. Mr Sayed-Khaiyum also noted that ANZ was in sup­port of the Fair Re­port­ing of Credit Act and was work­ing with Gov­ern­ment in the re­vamp­ing of the sug­ar­cane in­dus­try.

He said that a reg­u­lated credit re­port­ing agency would en­hance con­fi­dence not only in the credit mar­ket but in the over­all fi­nan­cial sys­tem.

“This cre­ates a lot of syn­er­gies. Fiji is hub of the Pa­cific and has a foot­print in the other Pa­cific coun­tries.” “To have con­fi­dence in whether it is remit­tances or whether it needs to do with credit card trans­ac­tion, we need to have well reg­u­lated sys­tem, we need to have reg­u­lated frame work for fi­nan­cial banks op­er­ate in.

“Fiji is very proud in that sense to have a very well reg­u­lated fi­nan­cial sys­tem gov­erned by of course the Re­serve Bank of Fiji and I think that’s one of the at­trac­tions for Union Pay to be in Fiji.”

Tourism in­dus­try

With Union Pay be­ing a Chi­nese com­pany, hav­ing its pres­ence in Fiji would also au­gur well for the tourism in­dus­try, the Min­is­ter said. “Fiji of course as you all know through Fiji Air­ways flies di­rectly to Shang­hai, and we are hop­ing that we will able to reach con­sen­sus with the Chi­nese Gov­ern­ment when we will be able to com­mence di­rect flight to Bei­jing and code­share with Air China”. Mean­while, ANZ Fiji Act­ing CEO Saud Mi­nam com­mented on the fair credit re­port act. “ANZ which is the lead­ing bank in Fiji. We’re con­fi­dent our strong risk sys­tems mean our lend­ing stan­dards will not be com­pro­mised and we will work hard to min­imise any dis­rup­tion to cus­tomers.”

Photo: Waisea Nasokia

From left: Tourism Fiji Ex­ec­u­tive Chair­man Tru­man Bradley, ANZ Fiji Act­ing CEO Saud Mi­nam, At­tor­ney-Gen­eral Aiyaz Sayed-Khaiyum, UnionPay In­ter­na­tional chief ex­ec­u­tive of­fi­cer Cai Jianbo, Radis­son Blu Re­sort gen­eral man­ager Gerard Knight and Fi­jian Trade Com­mis­sioner/Coun­sel Gen­eral to China Yolinda Chan dur­ing the launch at Radis­son Blu Re­sort and Spa at Denarau last night.

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