Government has announced the issue of $10 million in Fijian Government Viti Bonds for 2013.
Fijian Government Viti Bonds, which were first introduced in April 2012, are long term securities that are available to the general public as an alternative option to other investments such as term deposits, shares or units in a trust fund.
The Reserve of Fiji said that the main purpose of Viti Bonds is to help develop the domestic security market, increase the investment options available locally and encourage retail investor participation.
The Bank said that the Government issued a total of $3.0 million in Viti Bonds to 55 separate retail investors in 2012 and an important change being introduced that is expected to improve retail investor participation is the increase in individual investor limits to $200,000 from $100,000 previously.
Viti Bonds are available for 5, 7 and 10 year terms and benefits of investing in Viti Bonds include tax free interest income and quarterly interest payments.
Viti Bonds are available for a minimum investment of $1,000 and can be purchased directly from the Reserve Bank of Fiji on any working day before 29 November this year.
Story by: Sneh Chaudhry
