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.
Ultimately we hope that it will enable access to financial services for sectors of the Pacific region that are in danger of being financially isolated.19 In doing so we hope to maintain financial corridors and services to enable Pacific countries’ recovery and growth which in turn supports the financial stability and prosperity of our regional economy.