New bank brings more competition - Consumer Council

The Consumer Council of Fiji said consumers in Fiji are now experiencing true competition in banking services with the opening of the BRED Bank.

CEO Premila Kumar said the introduction of a new bank has made the other four banks to reduce their interest rates on home loans including the reduction and removal of other fees and charges.

The council wants to see regulations in place that makes switching of banks easy, convenient and without cost including the transfer of debit and credit information to the new bank.


Story by: Dhanjay Deo