Regulatory Alerts2020-01-01
Minimum Guidelines on the Establishment of a Local Advisory Board
The Reserve Bank of Fiji issued this policy to require Foreign Bank Operations licensed under the Banking Act 1995 to establish a Local Advisory Board. The guidelines mandate that the Board, comprising at least five members including independent non-executives, provide strategic advice on Fiji's regulatory environment and national development objectives. Compliance is enforced through RBF oversight, with sanctions imposed for non-compliance and specific requirements set for member eligibility, governance structures, and reporting.
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