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Question from Lusi L (lusi l@hotmail.com), 25 August 2010
Are there any new bank regulation in Fiji? (ie innovation in bank regulation). If yes, what are some of the new regulations?
Answer:
Recently there have been no new regulations as such that have been enacted. The last legislations that came into effect were the Financial Transactions Reporting Regulations. These Regulations are governed by the provisions of the Financial Transactions Reporting Act.
Question from Iliseva (alleyesonmeteva@yahoo.com)
What are Westpac's main assets, liabilities, expenses?
Answer:
The Statistics/Data segment of this website carries Westpac's last publicly available Full Disclosure Statements which should provide you the necessary answers. However, should you wish to obtain the latest information, please contact the Bank's Treasury/Finance Divisions.
Question from Iliseva (alleyesonmeteva@yahoo.com)
What are some of the major problems that financial institutions in Fiji face?
Answer:
The Association can only speak on behalf of the licenced banking institutions doing business in Fiji. Moreover your enquiry is a broad-based one and responding vis this medium may be both difficult and time consuming. We shall be happy to sit with you in a discussion.
Question:
Different Banks have different trading hours. Does the Association set opening and closing times of Banks ?
Answer:
No. Banks determine their own business hours, however they liaise withe Reserve Bank of Fiji prior to doing so.
Question:
There is talk of another Bank opening in Fiji soon called the Natiive Bank of Fiji. Could you please provide some information on this.
Answer:
We suggest you contact the Reserve Bank of Fiji as they are the regulators of the country's banking industry.
Question:
Do Banks still accept the old design Fiji currency coins from customers ?
Answer:
No. They have stopped accepting old coins now. Please take them to the Reserve Bank of Fiji and they will provide you value.