THE Central Bank (CBSI) said it has started to address consumer protection and empowerment; towards end of 2013. In its 2013 annual report, the bank said a prudential guideline was issued to commercial banks requiring them to disclose all their interest rates, fees and charges and vividly displaying and informing consumers of any changes. “Work…
THE Solomon Islands Electricity Authority (SIEA) has improved their cash power payment process for customers. Last week, the power provider ensured customers are promptly served by making way for a drive-through payment system at their head office, Ranadi. “Previously, customers have to park their cars in the car park and walk in to pay their…
ABOUT 15 journalists from around the region are undertaking a workshop to boost their skills in business and economics reporting in Apia, Samoa. The participants came from Fiji, Kiribati, Papua New Guinea (PNG), Tonga, Solomon Islands and Samoa. Jemima Garret from the Australian news network is facilitating the training starting yesterday at the National University…
As part of its financial deepening and payment services reform agenda, CBSI recognised the need for an efficient national payments system that can cater for both high value and retail payments; using the electronic platform. Under Sections 26 and 27 of the CBSI Act 2012, the Central Bank is given the power to provide facilities,…
THE Government’s domestic securities borrowings fell in 2013 as the government service its debts according to the CBSI 2013 report. The report stated that the government’s (SIG) domestic debt outstanding at the end of the year was $205.2 million, a reduction of $34.4 million compared to $239.6 million in December 2012. The domestic debt outstanding…
TEMOTU premier Fr Brown Beu has commended the national government for its commitment to developing his province. He uttered this at his province’s second appointed celebration at provincial capital Lata, yesterday. “I sincerely wish to acknowledge the national government for its positive presence in our province through the number of non-devolved functions carried out by…
A WOMAN yesterday told the High Court former Central Bank employee Philip Bobongi bought her a car. She was giving evidence during the trial of Bobongi, who was charged with 38 counts of money laundering and two counts of larceny & embezzlement. Bobongi was accused of stealing more than $1.7 million of muted notes from…
LAST week, we discussed about fear of devaluation of Fiji dollar. This week our focus is on the fear of appreciation of Papua New Guinea (PNG)’s currency, the kina. Under a fixed exchange rate regime, the Fiji dollar can be up-valued or devalued only by central bank. PNG has a floating exchange rate regime under…
DEAR EDITOR – Beauty is in the eye of the beholder. I wonder if happiness too is in the heart of its beholder. If a person is asked to define happiness probably the best he could say or do is find a synonym of this particular word. Happiness is not a verb to be defined;…
DEAR EDITOR – “Silence is golden” so the saying goes. How true that is, is farfetched to prove. But this is a good virtue to embrace. Unfortunately it will be naive to ascribe to such a virtue if you are a leader of some sort in the society or community in which you live or…