The vision to work towards enabling all Solomon Islanders the opportunity to have access to basic financial services and be financially competent took a step forward following the inaugural meeting of the newly established National Financial Inclusion Taskforce (NFIT) spearheaded by the Central Bank of Solomon Islands (CBSI).
NFIT members met this week to endorse an Action Plan for 2011 that will see the financial institutions, the government and other major stake holders take up the challenge of providing basic financial services to the majority of Solomon Islanders living in the rural areas.
Chaired by the Governor of the CBSI, membership of the NFIT comprises of representatives of the Ministry of Finance, Ministry of Education, CBSI, non government organizations, women’s groups, the private sector and the Pacific Financial Inclusion Program based in Fiji.
In a statement issued this week, Governor Rarawa said "that the task ahead was crucial and that members of the NFIT including the various Working Groups that will be set up must be action oriented to ensure the success of financial inclusion programs in the country".
The meeting this week approved the NFIT action plan which includes, the coordination of all stakeholders financial inclusion initiatives, the review of laws and policies that affect financial inclusion, options to allow first time rural bank customers meeting minimum personal information to open bank accounts, innovative models to promote financial products through the use of technology, new models of saving groups, and building financial competency through the promotion of financial literacy and the introduction of financial literacy education in the national curriculum.