It means that, apart from birth certificates and passport, a letter from the village elder or church Pastor could be used in the remote areas to ID customers. The Reserve Bank is currently working on a best practice Payment Systems Legislation, to licence and regulate all providers of the E-Money services in Fiji.
The share of foreign lenders’ loans denominated in local currencies has increased remarkably, as shown in Figure 3, although the maturities of such loans are still one year or shorter. It is worth mentioning here that some countries have implemented measures explicitly to reduce the mismatch.