Moreover, a significant increase in the rate of single-family home turnover has meant that many consumers have been able to realize gains from the sale of their homes. To be sure, such capital gains, largely realized through an increase in mortgage debt on the home, do not increase the pool of national savings available to finance new capital investment.
Other key benefits of the Bill are: Vesting clear powers with the Reserve Bank to oversee, regulate and supervise payment systems in Fiji, including non-bank and non-financial institutions providing payment services. This is vital to not only ensure the safety of the funds of all users but also maintain confidence in these systems and Fiji’s financial system as a whole.