A national strategy and action plan will soon be formulated for developing financial competency throughout Fiji.
The Reserve Bank of Fiji organised a two-day National Financial Competency Development Workshop which started at the Holiday Inn in Suva yesterday.
Opening the workshop RBF governor Barry Whiteside said the development of a national financial strategy would help address issues such as the type of financial literacy training appropriate for different segments of the community.
"Financial competency amongst the different segments of the community is critically important for the development and promotion of financial inclusion in Fiji, an area which has continued to receive attention in the last three years," Mr Whiteside said.
He said Fiji's efforts in the area of financial inclusion had also not gone unnoticed and had been shared at global forums.
"When people are financially literate and have access to appropriate financial services there is greater potential for social and economic development and opportunities for people to work their way out of poverty."
He said the focus of the workshop was to develop and ensure that there was a policy in place at national level to support and empower consumers and stakeholders.
"It is about empowering and making available necessary information and tools for all citizens to make informed financial decisions," Mr Whiteside said.
He added that works such as reaching the 150,000 unbanked clients by 2014 in partnership with financial service providers, mobile network providers, relevant government agencies and NGO's continues.