At this stage, I wish to clarify that the Reserve Bank regulates and supervises only the financial institutions that we licensed. These currently include commercial banks, insurance companies, credit companies and foreign exchange dealers. We have added the Fiji National Provident Fund to the list since 2003.
The key intention of this supervision is to protect depositors, the policy holders, members and the financial system as a whole. There are some finance companies that we do not license and we do not therefore supervise. We have put out an advertisement to this effect.