The Reserve Bank of Fiji (RBF) has announced the establishment of the Office of the Financial Services Ombuds (FSO) as revealed in the 2024 National Budget Address.
The FSO will act as an impartial platform for resolving disputes, specifically focused on investigating, mediating, and ensuring fair resolutions between consumers and financial services providers licensed and regulated by the RBF.
The office will play a crucial role in providing consumers with a dependable mechanism for addressing their grievances, enhancing trust and confidence in Fiji’s financial sector.
In this regard, the Reserve Bank has announced the appointment of Wati Seeto as the inaugural Financial Services Ombudsperson.
Ms. Seeto brings 25 years of legal experience, including 15 years in financial regulation and consumer protection, having previously held senior roles at the Capital Markets Development Authority before joining the RBF in 2010.
“The creation of the FSO is a significant milestone in our ongoing efforts to enhance consumer protection and ensure the integrity of our financial system,” stated RBF Governor, Ariff Ali.
“We are confident that under Ms. Seeto’s guidance, the FSO will effectively address consumer concerns and contribute to a more transparent and accountable financial sector.”
Consumers seeking assistance from the FSO are required to first exhaust the current complaints avenues provided by financial institutions.
The FSO will begin operations today.