[Source: RBF/ Facebook]
The Reserve Bank of Fiji launched its online Central Securities Depository today in Suva.
The central bank acts as the administrator of this depository.
RBF Governor, Ariff Ali, who officiated at the event says the value of these securities is about six billion dollars.
Chief Manager of Financial Markets, Caroline Waqabaca says this launch marks a milestone in the financial market development.
“As an investor in government bonds, you’re holding a physical certificate in your hands so now your ownership is in electronic form. It also offers a platform for the trading and clearing of these securities and the settlement of these securities on a real-time basis.”
The online Central Securities Depository is a joint effort between RBF, the Ministry of Economy, and its Development partners, the World Bank, and the International Finance Corporation.