FCCC welcomes upgraded FijiClear system

November 28, 2023 5:34 am

FCCC Chief Executive, Joel Abraham [File Photo]

The Fijian Competition and Consumer Commission has extended its congratulations to the Reserve Bank of Fiji on the successful launch of the upgraded FijiClear system.

This advancement marks a significant leap forward in financial transactions and economic efficiency within Fiji.

FCCC Chief Executive, Joel Abraham says their role is not only to ensure fair competition and regulate market practices but also to champion initiatives that elevate consumer welfare.

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Abraham says the enhanced FijiClear system is a perfect example of such an initiative, offering a robust solution that promises to deliver tangible benefits to Fijian consumers.

He emphasizes that by enabling 24×7 real-time transfers for transactions under $50, 000, FijiClear reduces dependency on physical cash and cheques, minimizing risks and costs associated with these traditional methods.

Abraham adds this is a visionary step by the Reserve Bank of Fiji which looks to ensure that consumers are at the forefront of financial innovation.