FIJI is charting a transformative course for its financial sector by combining traditional currency with cutting-edge digital solutions, said Deputy Prime Minister and Minister for Industry and Commerce Manoa Kamikamica.
Speaking at the inaugural Island Nations Currency and Payments Summit in Denarau earlier this week, he said that the future of money relied on coexistence rather than a complete shift to a cashless society.
“Cash continues to play an important role in our economies and communities, it is trusted, generally anonymous, universally accepted and accessible,” Mr Kamikamica said.
“To ensure ongoing security, the Reserve Bank of Fiji has introduced new polymer banknotes featuring advanced durability and protection measures.”
At the same time, Mr Kamikamica said regional innovation was surging through platforms like the Fiji Innovation Hub, which had supported nine fintech start-ups in its inaugural year.
Projects range from peer-to-peer lending to open-source savings systems designed for women’s co-operatives.
