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AG: Regulate money lenders in Fiji

October 14, 2015 5:06 am

Finance Minister Aiyaz Sayed-Khaiyum says the regulation of the money lending industry in Fiji is something that requires attention.

The Minister highlighted this at the 8th Pacific Credit Union Technical Congress that got underway in Suva today.

“The reality is that many people do go to money lenders because they do not have an asset base – they cannot put anything up as collateral.”

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Sayed-Khaiyum says owning a house or property would help Fijians get approvals on their loans from the banks and reduce their dependency on money lenders.

He says this is why the government has been adamant on helping people own their own homes by giving out grants.

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