Post Fiji announced on Friday the extension of its rural banking services partnership with BSP Bank, which currently provides banking services at 36 post offices across the country.
Isaac Mow, chief executive officer of Post Fiji, emphasized the significance of the collaboration and the company’s historical connection to banking services. He noted that the post office initially commenced operations with the post savings bank, which eventually evolved into the National Bank of Fiji and then Colonial, before becoming BSP.
Mow expressed gratitude for the opportunity to work alongside BSP again to deliver rural banking services to the remote regions of Fiji.
The renewal of the agreement comes after a tri-party agreement was signed earlier in the week involving Post Fiji, BSP Bank, and the Ministry of Finance, aiming to enhance access to financial services in rural communities.
Rajeshwar Singh, acting country head of BSP Bank, highlighted that Post Fiji’s infrastructure allows for the provision of branch services to customers in rural and isolated areas. Rural customers can make deposits, withdraw up to $500 daily, reset debit card PINs, replace BSP debit cards, and check their account balances. They can also apply for new accounts with BSP.
Singh also mentioned that rural customers are able to utilize BSP’s digital banking platform, which facilitates over 90 percent of transactions.
He stated that through this government-led partnership, Post Fiji has effectively served as a trusted agent in delivering services to Fiji’s unbanked population, enhancing access to banking services that stimulate economic activity in rural regions and contribute to the overall economy of Fiji. Singh reflected on the transformative impact of this collaboration on lives and communities, expressing excitement for future innovations and service expansions.