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Financial Literacy Training To Have Far Reaching Effects

A memorandum of understanding signed between the Reserve Bank of Fiji and ANZ, is expected to expedite far reaching results of financial literacy. The MOU, which was signed in Suva
02 Mar 2021 10:37
Financial Literacy Training To Have Far Reaching Effects
Participants at the Training The Trainers programme with Governor Reserve Bank of Fiji Ariff Ali (front row, third from left) and outgoing ANZ Fiji Country Head Saud Minam (front row, fourth from left), following the signing of the memorandum of understanding between the two banks, in Suva on March 1, 2021.

A memorandum of understanding signed between the Reserve Bank of Fiji and ANZ, is expected to expedite far reaching results of financial literacy.

The MOU, which was signed in Suva yesterday, adds credibility to the programme, outgoing ANZ Fijicountry head, Saud Minam.

“Our objective is to ensure that as soon and as fast as we can, many people can reach the programme,” he said in response to SunBiz queries.

The first RBF Training of Trainers workshop, organised in partnership with ANZ Bank, included participants from Labasa, Lautoka and Nadi.

“Now more than ever, the MoneyMinded programme, is needed,” Mr Minam said.

ANZ’s Money Minded programme has benefitted over 22,000 people since its initiation in Fiji in 2010, Mr Minam said.

RBF’s financial system, development group chief manager, Poasa Werekoro, said the workshop was part of a wider COVID-19 economic response financial literacy outreach campaign.

The campaign is in partnership with the United Nations Pacific Financial Inclusion Programme (PFIP), which aligns with our efforts at the RBF to drive the national financial inclusion agenda, Mr Werekoro said.

“The impact of the work that we do here must be felt by all Fijians – and that can only happen if we are all included in our financial system,” he said.

 

Lesson
A lesson from the COVID-19 crisis was that without much warning, jobs could be lost, and lives could change in an instant, Mr Werekoro said.

“Another key takeaway, is that we must prepare for rainy days,” Mr Werekoro said.

“Many Fijians were not financially prepared to weather the full effects of COVID-19, as well as the recent series of climate-related disasters.”

“Financial education is one possible solution.”

“We need to teach our people and our children to save, to spend wisely and plan for the unexpected.”

 

Politics
In another development, Mr Minam said the media had blown out of proportion his earlier remarks about his interest in a political career.

Mr Minam had disclosed an interest in national politics at a seminar hosted by the Fiji Institute of Accountants.

 

Feedback: frederica.elbourne@fijisun.com.fj



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