In 2015, PFIP and the Reserve Bank of Fiji (along with two other Pacific Island Countries) co-published a large scale demand-side survey, building a comprehensive picture of the country’s financially underserved segments, including women. The results were used as the main evidence base in developing Fiji’s second national financial inclusion strategic plan.
In 2016, PFIP supported the Reserve Bank of Fiji in developing the country’s National Financial Inclusion Strategic Plan 2016-2020, based on clear global and regional mandates from Fiji’s Maya Declaration and MoneyPacific Goals commitments. The overall target of the five-year plan is for 85 percent of Fijian adults having formal financial services by 2020, of whom 50 percent are women
In 2015, the flagship Financial Education (FinEd) Programme with the Fiji Ministry of Education reached almost 200,000 students across Fiji through integration into the national curriculum. In 2015, PFIP supported the ongoing training of teachers, with 3,488 teachers across Fiji in delivering the curriculum.
With support from PFIP, microinsurance provider BIMA has expanded its operations in the Pacific region in 2016 by establishing a call centre in Fiji as an operational hub which will offer microinsurance products (life and hospitalization insurance) to Digicel pre-paid customers in five additional Pacific markets, namely Fiji, Vanuatu, Nauru, Tonga and Samoa.
PFIP is working with the Fiji National Provident Fund to pilot improved voluntary micropension products targeted at the 140,000 Fijians without pension schemes who were either self-employed or working for wages. The aim is to create appropriate, affordable and flexible micropension product offerings which better meet the needs of the target group to provide adequate funds for their retirement.
PFIP is partnering with the Fijian government to undertake a revision of the Fijian Consumer Credit Act (1999) in line with global best practices, in order to better protect the interests of consumers in the face of an evolving consumer credit industry.