LOCALLY-owned financial institution HFC Bank has introduced an innovative banking solution designed to simplify connections for Fijians living overseas and address challenges in opening bank accounts here in Fiji.
Made possible through a strategic partnership with the Government and the Fiji Trade Commission – North America, HFC Bank has initiated the program that allows members of the Fijian diaspora with the flexibility to open accounts while residing in the United States.
A joint statement from HFC Bank and the Ministry of Trade, Co-operatives, MSMES and Communications stated this innovative initiative reflected its steadfast commitment to making banking accessible, convenient and reliable for Fijians worldwide.
It stated over the years, the Fijian diaspora in the US had been instrumental in bolstering the economy by remitting millions of the greenback back home to their families and communities each year, but were challenged when trying to open a Fijian bank account from abroad.
“To address this issue, HFC Bank has implemented a process enabling Fijians residing in the USA to submit all required documentation through the Fiji Trade Commission North America office in California,” the joint statement said.
“The HFC Bank is committed to ensuring these accounts are established securely, facilitating hassle-free funds transfers directly into their bank accounts in Fiji.”
Deputy PM and Minister for Trade Manoa Kamikamica, who spearheaded the US Business Mission, said this achievement was a testament to the dynamic and forward-thinking approach by the bank.
“By launching this new solution, they not only enhance their offerings but also strengthen their commitment to serving the local community with tailored financial solutions,” Mr Kamikamica said.
“It’s initiatives like these that drive economic growth and support the prosperity of our small and medium enterprises.
“The Government hopes HFC Bank can roll this initiative to other diaspora destinations.”
HFC Bank CEO Rakesh Ram said they intended to offer similar solutions to Fijians in other regions around the globe.
“By consistently innovating and adapting to the needs of its customers, HFC Bank is positioning itself as a leader in banking services for Fijians worldwide,” Mr Ram said.
Fiji Trade Commissioner to North America Alika Cooper commended the initiative saying the partnership would enhance economic connections and nurture a sense of belonging and support within the Fijian diaspora.
NOTE: This article was first published in the print edition of the Fiji Times dated FEBRUARY 15, 2025.
