Conclusion In conclusion, I take this opportunity to thank the Chinese Government for its continuing goodwill and willingness to engage in closer economic ties with Fiji. I also extend my best wishes towards this partnership between China UnionPay and Bank South Pacific. This alliance is an excellent business and investment opportunity for both countries and institutions.
Therefore, to mitigate the ‘risk of failure’ emanating from governance issues, the standards expected of banks are always higher than those from other entities. The same principle would apply to other regulated entities engaged in financial intermediation, albeit in varying degrees. 13. For ensuring sound corporate governance, we need to be mindful of two key challenges.