August 10, 2016 9:39 am

Offer affordable interest rates for home loans: AG

The Minister for Economy Aiyaz Sayed-Khaiyum has called on financial institutions to offer affordable interest rates for home loans. In a meeting yesterday with the Association of Banks in Fiji, Minister Sayed-Khiaum called on the Reserve Bank of Fiji, Fiji National Provident Fund and other financial organisations to work together to complement Government’s vision of rapidly boosting home […]

The Minister for Economy Aiyaz Sayed-Khaiyum has called on financial institutions to offer affordable interest rates for home loans.

aiyaz-saiyed-khaiyum-parliament
The Minister for Economy Aiyaz Sayed-Khaiyum . (Newswire)

In a meeting yesterday with the Association of Banks in Fiji, Minister Sayed-Khiaum called on the Reserve Bank of Fiji, Fiji National Provident Fund and other financial organisations to work together to complement Government’s vision of rapidly boosting home ownership.

SAYED-KHAIYUM: “Government is pursuing a prudent strategy for economic development that requires robust engagement with the private sector, particularly with our banking industry. We need to work together to develop financial solutions that allow Fiji to take full advantage of the Cyclone Winston rebuild phase and that position our economy towards sustainable and inclusive long-term growth.”

The AG told the association members that Government’s priority was to increase home ownership among ordinary Fijians.

The Association of Banks in Fiji agreed to hold regular meetings and consultations with Government to review progress towards agreed benchmarks and explore new areas of collaboration.

The meeting also discussed Fiji’s recovery and rehabilitation efforts in the aftermath of Cyclone Winston and the need to address labour and skills shortages to bolster Fiji’s construction boom following Cyclone Winston.