Reserve Bank of Fiji hosts AFI Working Groups on Inclusive Green Finance, and Consumer Empowerment & Market Conduct

From 4 to 7 March, AFI’s Inclusive Green Finance (IGF) and Consumer Empowerment & Market Conduct (CEMC) Working Groups are meeting in Nadi, Fiji. The sessions, co-hosted with the Reserve Bank of Fiji, are being attended by over 100 participants from 61 AFI member institutions.

“The AFI Working Groups are critical in promoting financial inclusion globally and in the Pacific region. By bringing together policymakers, regulators, and other stakeholders, the working groups provide a platform for collaboration and knowledge-sharing. It also helps to identify best practices and innovative solutions that can be replicated in other countries. I am delighted that we are hosting two working group meetings whose thematic areas are areas for Fiji’s financial inclusive development,” said Reserve Bank of Fiji’s Governor and AFI Board Chair, Ariff Ali.

“There is interesting synergy between the two Working Groups,” said AFI’s Chief Operations Officer, Chee Soo Yuen. “Policies which address climate-related risks and green financial systems may also affect market conduct, while climate change and resilience building is increasingly being integrated into financial education.” 

“It’s particularly meaningful to be holding these discussions in Fiji, a frontrunner in promoting inclusive green finance and consumer protection. The opportunity to study and learn from Fiji’s experience will be invaluable.”

AFI’s CEMC Working Group seeks to promote stable and inclusive financial services by empowering consumers to make more informed financial decisions, while protecting them via effective regulation, supervision and enforcement of market conduct.

The IGF Working Group is a platform for financial regulators and policymakers to provide policy leadership and regulatory guidance related to inclusive green finance, helping mitigate and build resilience against the negative impacts of climate change.

The Reserve Bank of Fiji also chairs AFI’s Pacific Islands Regional Initiative (PIRI), which works to boost and coordinate financial inclusion efforts in the region, and will host the upcoming PIRI Leaders’ Roundtable in June 2024.