Regulatory Alerts2020-01-01
Accountability and Disclosure Guidelines on Interest Rates, Fees and Charges for Licensed Banks in Fiji
The Reserve Bank of Fiji issued Banking Supervision Policy Statement No: 8A to mandate licensed banks in Fiji to fully disclose interest rates, fees, and charges for all products and services. The policy requires standardized pre-contractual disclosures, periodic statements, and prior notification to both the regulator and customers for any new or increased fees. Compliance is enforced through mandatory reporting forms, annual declarations, and sanctions for non-compliance to promote transparency and informed consumer decision-making.
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