In 2019 we established the Pacific Remittances Project with support from the Ministry of Foreign Affairs and Trade to address challenges facing remittance services domestically and in the Pacific region. We are working with other agencies in New Zealand, Australia, the Pacific and internationally, such as the Asian Development Bank and International Monetary Fund to make remittances more accessible, safe and cost effective.
Along with the Reserve Banks of Australia, Fiji, Papua New Guinea, Samoa, the Solomon Islands, Timor Leste, Tonga, Vanuatu and other partners we are developing a regional ‘Know Your Customer’ facility. This will help remitters and other businesses to meet their compliance needs.