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$13 million a month has been deferred by banks for mortgage repayments – Sayed-Khaiyum

$13 million a month has been deferred by banks for mortgage repayments – Sayed-Khaiyum

By Dhanjay Deo
Monday 25/05/2020
Minister of Economy Aiyaz Sayed-Khaiyum

About $13 million a month has been deferred by commercial banks in Fiji in respect of mortgage repayments.

Minister of Economy Aiyaz Sayed-Khaiyum revealed this in parliament today saying that the Association of Banks has been working with them to help those who have been affected by COVID-19.

He says there are some people who were defaulting payments even before the COVID-19 pandemic.

SODELPA MP, Niko Nawaikula while moving his motion that parliament resolves to establish a Special Committee to review the cost of living had stated that he has received a number of complaints about banks dragging their feet in honouring their agreement in terms of interest and principal payments.

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