Customers applying for an initiative at the Fiji Development Bank, will soon notice changes to its online platform.

This after the Bank sealed a partnership via digital signing with Singapore-based company, Visa Worldwide Private Limited yesterday to develop its ‘Practical Money Skills Programme’ for its customers.

There will be pop-up messages appearing during the application process which is directed to the Bank’s financial literacy programme site.

These pop-up messages would get the attention of customers to understand the Bank’s financial literacy programme and some of its modules, said FDB chief executive officer, Saud Minam.

“It is not mandatory but is recommended before the customer completes the application process.

“This way you are not only applying for the loan but you are also going through the financial literacy programme. Once the customer finishes the module then he/she can come back to the application.”

Meanwhile, the ‘Practical Money Skills Programme’ would help businesses learn the fundamentals of finance, including practical business skills and practical money skills on a digital platform, offering an array of learning modules.

Reserve Bank of Fiji deputy governor Esala Masitabua said RBF was happy to support financial literacy in the country.

Mr Masitabua said financial literacy was tied closely with financial inclusion which was close to the heart of central bankers.

He said it leads to inclusive growth and an inclusive economy.

“It is in the heart of policy makers to ensure that financial or economic growth is inclusive and includes everyone leaving no one behind,” Mr Masitabua said.

“We feel that there is a gap in financial literacy that is targeted towards our MSMEs, especially towards the lower end of the spectrum, the micro and small business owners.

“We have been working with the commerce arm of the Government but the magnitude of the issue requires a multifaceted and multi stakeholder approach,” he said.

Fiji Employers Federation chief executive officer Kameli Batiweti congratulated the collaboration between the organisations.

Visa Worldwide Pte Ltd is a Singapore-based company providing product platforms encompassing consumer credit, debit, prepaid and commercial payments to enable transaction processing and related value-added services.

They have been in existence for the past 30 years.

Story by: Laisa Lui

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