The Cabinet has approved the creation of a Financial Services Ombudsman (FSO) within the Reserve Bank of Fiji (RBF).
The establishment of the FSO within the RBF aims to enhance the current complaints management function carried out by the RBF.
The primary objective of the FSO is to address complaints filed by consumers against banks, insurers, and other financial service providers.
The FSO will offer an accessible and neutral platform for dispute resolution, with a specific focus on investigating, mediating, and providing fair resolutions for the distinct challenges faced by consumers.
The performance of the FSO within the RBF will be evaluated after a period of two years.