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Improve Financial Literacy Through Information Kiosk

Improve Financial Literacy Through Information Kiosk
Fijian Holdings Unit Trust sales and marketing officer Farrell Maharaj (right) advising a customer during the Capital Markets Week at Fiji National Provident Fund’s Boulevard Downtown, Suva on July 4, 2018. Photo: Mohammed Zulfikar
July 05
14:56 2018

Into the fourth day of the Capital Markets Week and people are making the best use of the services provided by the stakeholder-run information kiosks at Fiji National Provident Fund’s Boulevard Downtown, Suva.

The Reserve Bank of Fiji is hoping to raise public awareness about Fiji’s capital markets and improve financial literacy in the country through events organised during the week.

Fijian Holdings Unit Trust sales and marketing officer Farrell Maharaj said they are advising the people about the retirement plan, savings for future education, financial planning and diversifying investment.

“We are trying to raise awareness on investment and trying to help the people set-up an investment plan. There is no entry age and anyone can enter the investment plan,” Mr Maharaj said.

“The investment plan can be from medium to long-term like three to five years.”

He said the people can have capital gains as there are no taxes with dividends.

The types of investors to buy units are individuals, joint unit holders, investing on behalf of a minor, company, trust or groups and deceased estate.

Another stakeholder-run kiosk is Fiji Public Trustee Corporation Limited. The Fiji Public Trustee Corporation representative Ovini Suka said they are trying to inform people on the importance of having a Will.

“If you own something, put it in legal writing or in black and white, so that when you die your wealth is distributed accordingly to your wishes,” Mr Suka said.

“We have encountered cases where people fight over the property and it becomes very difficult to transfer property as there are many beneficiaries.

“We clarify and tell the people the importance of the will and encourage them to have their Will made to avoid conflicts.”

Vodafone Fiji’s M-Paisa team are also present and are informing the customers the benefits of having an M-Paisa account.

Customer service representative Fazleen Ali said through M-Paisa it is easier for people to pay their bills, have a savings account, recharge their mobiles and the most important things people can do with an M-Paisa account is to top up their e-Transport cards.

“Now anyone with an account at HFC Bank or Westpac can transfer money into their M-Paisa account and conveniently use any of the services offered through M-Paisa,” Ms Ali said.

“There are no deductions if the money is transferred and the M-Paisa customers can also send money within Fiji and receive money globally free of charge.”

The Capital Markets Week concludes tomorrow.

What is  a Will

A will is a legal document that sets forth your wishes regarding the distribution of your property and the care of any minor children.


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