Regulatory Alerts2020-01-01
Minimum Requirements for Appointing Heads of Licensed Financial Institutions in Fiji
The Reserve Bank of Fiji issued Banking Supervision Policy Statement No. 15 to establish minimum requirements for appointing heads of licensed financial institutions under the Banking Act 1995. The policy mandates that appointees meet fit and proper standards while possessing specific qualitative attributes, including experience with central banks, understanding of Pacific culture, and the ability to negotiate sustainable targets aligned with Fiji's development priorities. Additionally, the Reserve Bank retains oversight authority to disqualify individuals deemed unfit and requires institutions to submit curricula vitae and undergo potential interviews prior to appointment.
Share