Women, MSMEs, Marginalised At The Heart of New Financial Inclusion Policies: RBF
Customer-centric policies that are needs-based pave the way in the National Financial Inclusion Strategy (NFIS) 2022-2030.
Launched by the Reserve Bank of Fiji, it marks a move from accesscentred plans that defined financial inclusion, Governor Ariff Ali said.
Small businesses
Micro small and medium enterprises are also factored in the new policies, he said.
“The Reserve Bank will do all it can to facilitate development and innovation towards meeting our financial inclusion goals so that come 2030, we will see further progress translated into improved livelihoods for ordinary Fijians,” he said.
New strategy
The new strategy provides alternative financing options for micro small and medium enterprises.
It also covers a national financial and digital literacy strategy and initiatives to build financial capability at school level.
The strategy will serve the financial inclusion blueprint for the next nine years, Mr Ali said.
Prioritised
The vulnerable and disadvantaged segments of the population are also prioritised in the new policies, he said.
It aims to address financial persistent barriers and challenges faced by women, youths, people living with disabilities and micro, small and medium enterprise business owners.
“By making available financial products that meet the needs of users, the NFIS will help vulnerable Fijians and MSMEs build resilience against economic shocks such as COVID-19 and climate change induced events,” Mr Ali said.