221,000 excluded from financial services

April 4, 2016

About 221,000 people are excluded from any formal financial service.

This is according to a survey carried out by the Reserve Bank of Fiji, Alliance for Financial Inclusion and the Pacific Financial Inclusion Programme on ‘financial access and usage’.

RBF Governor Barry Whitside said financial exclusion can impose significant costs on individuals, families and society as a whole.

Whiteside said tackling financial exclusion requires actions across a range of areas and of key stakeholders especially government departments.

He said improved financial access such as small loans, a savings account or an insurance policy can make a difference to people’s lives and help to better plan for the future.

Source: Fiji TV