FHL CEO reaffirms plans of having an iTaukei owned bank

The Fijian Holdings Limited has reaffirmed that there have been ongoing discussions on the idea of having an iTaukei owned bank to specifically look after the wealth of the iTaukei.

While speaking at the Lomaiviti Provincial Council Meeting, FHL Chief Executive Officer, Jaoji Koroi says there have been observations in other iTaukei sectors including the Ministry of iTaukei Affairs, the iTaukei Land Trust Board and the iTaukei Trust Fund as they are trying to improve the services provided to the iTaukei. Koroi says when this coalition government came into power, one of their main objectives was to look into the development of the livelihoods of the iTaukei community.

He adds there are a lot of things that are covered in this objective and one of them is the observations of the previous iTaukei institutions and there has been investigations in the GCC meeting.

He says there have been a few suggestions on how to improve the wealth of the iTaukei people.

Koroi says this includes the whole idea of having an iTaukei owned bank.

He says the FHL Board has agreed to put aside a sum of money from their profits to help landowners with processes to be followed.

The FHL CEO also says the board has also agreed to offer loans to all shareholders at FHL to help them if they need to start up a business.

He says 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-aukei and also have the landowners themselves participating in this objective.

He further says 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.

Koroi says they are now working on putting together a Terms of Reference as there is a plan of having these major iTaukei companies running this proposed bank.

He also says the plan is to not have the government involved as they want it to be a Non Government Organisation.