Cabinet has approved the creation of a Financial Services Ombudsman (FSO) within the Reserve Bank of Fiji (RBF).
The introduction of the FSO within the RBF is intended to enhance the current complaints management operations conducted by the RBF.
The aim of the FSO is to address complaints brought by consumers against banks, insurers, and other financial service providers.
The FSO will offer an accessible and neutral platform for dispute resolution, with a dedicated mission to investigate, mediate, and provide fair resolutions that address the specific challenges faced by consumers.
The effectiveness of the FSO within the RBF will be evaluated after a period of two years.