Monday, June 17, 2024
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Fijian Holdings works on setting up an i-Taukei Bank

Fijian Holdings Limited is in discussions with relevant stakeholders on having a fully-fledged i-Taukei Bank to specifically look after the wealth of the indigenous Fijians.

Speaking at the Lomaiviti Provincial Council Meeting, FHL chief executive Jaoji Koroi said there have been discussions and observation in other i-Taukei sectors including the Ministry of i-Taukei Affairs, the i-Taukei Land Trust Board and the i-Taukei Trust Fund as they are trying to improve the services provided to the i-Taukei.

Koroi emphasized that when the Government was given the mandate to lead Fiji, one of their main objectives was to look into the development of the livelihoods of the i-Taukei community.

“There are a lot of things that are covered in this objective and one of them is the observations of the previous i-Taukei institutions and there have been investigations in the GCC meeting.”

He also highlighted that there have been a few suggestions on how to improve the wealth of the i-Taukei people – This includes the whole idea of having an i-Taukei owned bank.

“The FHL Board has agreed to put aside a sum of money from their profits to help landowners with processes to be followed. The board has also agreed to offer loans to all shareholders at FHL to help them if they need to start up a business.”

“This is going to be a long road in trying to achieve this objective and these i-Taukei sectors have been tasked with putting together a plan especially in providing the services for the wealth of the i-Taukei and also have the landowners themselves participating in this objective.”

He further said before it was easier for the i-Taukei to lease whatever wealth they have especially the land to other groups in which they then come and make developments and upgrades and they are now working on putting together a Terms of Reference, as there is a plan of having these major i-Taukei companies running this proposed bank.

He added that the plan is to not have the government involved, as they want it to be a Non-Governmental Organisation.

Fijian Holdings Limited is a highly successful investment company and a major player in the corporate sector that is 100% owned by indigenous Fijians.

Ilaitia Ravuwai
Ilaitia Ravuwai
Journalist | news@fijilive.com

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