Post Fiji has announced the renewal of its rural banking services agreement with BSP Bank, which currently provides banking services at 36 post office locations.
Isaac Mow, the chief executive officer of Post Fiji, expressed appreciation for the partnership, highlighting the company’s longstanding history with banking services. He noted that Post Fiji’s journey began with the establishment of a post savings bank, which eventually evolved into the National Bank of Fiji and then Colonial, ultimately leading to its current collaboration with BSP.
Mow emphasized the importance of providing banking services to underserved areas in Fiji, stating, “We’re glad to be part of that journey and to partner again with BSP in providing rural banking services to those out in the far-flung areas of Fiji.”
The announcement follows a recent tri-party agreement between Post Fiji, BSP Bank, and the Ministry of Finance, aimed at enhancing access to financial services in rural communities.
Rajeshwar Singh, the acting country head of BSP Bank, highlighted that Post Fiji’s infrastructure allows the bank to reach customers in remote areas. He noted that rural customers can make deposits, withdraw cash up to $500 daily, reset their debit card PINs, replace lost debit cards, and check account balances. Customers are also able to open new bank accounts with BSP.
Singh added that rural customers can benefit from BSP’s digital banking services, which account for over 90 percent of transactions.
He acknowledged that Post Fiji has played a crucial role in extending banking services to Fiji’s unbanked population. This partnership is seen as vital in boosting economic activity and supporting the rural economy as a whole.
Singh remarked on the significant impact the collaboration has had on transforming lives and communities, expressing excitement for the future as they aim to innovate and expand their services further.