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Fiji Time: 7:34 AM on Thursday 18 September

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$10m bonds to develop local security market

Geraldine Panapasa
Saturday, January 05, 2013

GOVERNMENT has issued $10million in Fijian Government Viti Bonds to develop the domestic security market, increase investment options available locally and encourage retail investor participation.

In a statement, the Reserve Bank of Fiji said government issued a total of $3m in Viti Bonds to 55 separate retail investors last year.

"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," the central bank said.

"Viti Bonds are available for five, seven and 10-year terms with competitive fixed interest rates of 4 per cent, 4.5 per cent and 5 per cent respectively.

"Benefits of investing in Viti Bonds include tax-free interest income and quarterly interest payments."

RBF said the Viti Bonds were available for a minimum investment of $1000 and could be purchased directly from the central bank on any working day before November 29 this year.

The Viti Bonds were first introduced in April last year and served as long-term securities that were available to the general public as an alternative option to other investments such as term deposits, shares or units in a trust fund.


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