Mortgage sales advert in newspapers decrease: ABIF

Saud Minam CEO of ANZ Fiji (left) and Rakesh Ram of Association of Banks in Fiji during the submission to the Standing Committee on Economic Affairs today. Picture: RAMA

THE number of mortgage sales advertisements in the daily newspapers have reduced, indicating that banks are lending responsibly and people are making the right decision.

Association of Banks in Fiji chairperson and HFC Bank’s CEO Rakesh Ram said commercial banks in Fiji were aware of their responsibilities and they always focused on responsible lending.

Mr Ram made the comment in reaction to a question by a member of the Standing Committee on Economic Affairs on why there were cases where people who were clients of certain banks for decades, yet their loan applications were not approved by their banks.

The association, represented by Mr Ram and ANZ Fiji country head Saud Minam, made their submission to the committee on the Reserve Bank of Fiji August 2017 – July 2018 Report.

The duo spoke on the digital transformation of the banks in Fiji and the reluctance of most of their customers to go cashless and use their debit cards for transactions.

Mr Ram said there were people who still preferred to have their cash in-hand for transactions and, therefore, there was a need for banks to raise more awareness on their digital agenda.

More Stories