Last but not least, banking union can only be completed via a strong Single Rulebook which reduces national discretions and allows liquidity to flow freely in the banking union to seek its most productive use.
In modernizing Fiji’s financial system, I am pleased to inform you that Fiji’s real time automated payments system is now operational. Fiji is the first country in the South Pacific to have such a state of the art payment system. We had a soft launch on 30 August and the system is working well. The system will facilitate faster clearance of cheques amongst banks.