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Audit reveals financial abuse, mismanagement

By GERALDINE PANAPASA
Thursday, March 06, 2014

Update: 2:14PM THE audits of certain micro finance institutions (MFIs) have revealed gross abuse and mismanagement of funds.

In a statement this week, the Ministry of Industry and Trade revealed this had led to a number of clients not being able to access their deposits in those MFIs.

"The Fijian Government has undertaken to assist and reimburse the affected clients," the statement said.

"The clients belonging to those MFIs, who have been unsuccessful in accessing the savings and deposits, are notified that a registration and verification process will be undertaken by the Ministry of Industry and Trade."