Post Fiji announced the renewal of its rural banking services agreement with BSP Bank on Friday. Currently, BSP Bank provides banking services at 36 post offices throughout the country.
Isaac Mow, CEO of Post Fiji, expressed appreciation for the partnership and highlighted the company’s historical connection to banking. He noted that Post Fiji began its operations with a post savings bank, which evolved into the National Bank of Fiji, then to Colonial, and ultimately to BSP. Mow emphasized the significance of their collaboration in facilitating banking services for those in remote parts of Fiji.
The renewed agreement follows a tri-party accord signed earlier this week involving Post Fiji, BSP Bank, and the Ministry of Finance, aimed at enhancing access to financial services in rural communities.
Rajeshwar Singh, acting country head of BSP Bank, stated that the infrastructure of Post Fiji enables the extension of their branch services to customers in rural areas. He detailed the services available to rural customers, including the ability to make deposits, withdraw cash up to $500 daily, reset debit card PINs, replace debit cards, and check account balances. Additionally, customers can apply for new bank accounts with BSP.
Singh also highlighted that rural clients can access BSP’s digital banking services platform, which handles over 90 percent of transactions. He acknowledged that the partnership, facilitated by the Government, positions Post Fiji as a reliable agent in providing banking services to Fiji’s unbanked population. This access facilitates economic activity and benefits the overall rural economy.
He expressed optimism about the future of the collaboration, which has already made a significant impact on communities, and looks forward to continuing their efforts in innovating and expanding services.