Institutes Advised to Offer Affordable Home Loan Rates

Oct. 3, 2017, 6:29 a.m.

bank association

Members of the Fiji Association of Banks and other financial institutions have been advised to offer affordable interest rates for home loans.

Association members paid a courtesy visit to Attorney-General and Economy Minister, Aiyaz Sayed-Khaiyum, yesterday, to brief the Government on their activities and discuss areas of public-private cooperation.

The AG reminded Association members of the Government’s priority of increasing home ownership among ordinary Fijians.

“Government is pursuing a prudent strategy for economic development that requires robust engagement with the private sector, particularly with our banking system,” he said.

“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.”

Mr Sayed-Khaiyum called on the Reserve Bank of Fiji, Fiji National Provident Fund and other financial institutions to collaborate and complete Government efforts of rapidly boosting home ownership by offering affordable interest rate for home loans.