Capital Markets Development
The Role of the Reserve Bank of Fiji
The RBF plays the dual role of regulating and developing Fiji’s capital markets markets. The Capital Markets Development Taskforce (Taskforce) was established by the RBF in 2010 to drive capital markets developmental initiatives, and is assisted by three working groups which focus on key areas of development and constitute representation from the capital markets industry and Government.
With the aim to develop and enhance Fiji’s capital markets, the RBF, in partnership with the Taskforce, set out to formulate the Capital Markets Development Master Plan 2025 (Plan) in 2010. The Plan encompasses a clear direction for the development of enabling and supportive programmes at national and institutional levels, providing clarity of the vision, and prioritising the critical areas of development in the capital markets.
The Plan’s vision to develop Fiji’s capital markets to become “the preferred capital markets centre in the South Pacific”. The objectives of the RBF in relation to the capital markets are as follows:
- To regulate and develop the capital markets in Fiji;
- To grant license to capital markets participants which include brokers, dealers, investment advisers, unit trusts, securities exchange and central depositories;
- To inspect and investigate, implement policies and rules and provide advice to the Government on operation and development issues for the capital markets;
- To provide an enabling environment for securities in the market place;
- Facilitate development of appropriate institutional infrastructure and human capital required of active capital markets;
- Promote good governance practices; and
- Formulate policy and advise Government on capital markets development and regulation.
- Promote good governance practices; and
- Formulate policy and advise Government on capital markets development and regulation.
Updates from the Capital Markets Advisory and Development Taskforce (“Taskforce”)
The Taskforce meets on a quarterly basis to deliberate and advise on capital markets issues pertaining to development and key reforms undertaken by the RBF. A media statement is published on the RBF website detailing updates and the outcomes of each meeting. The Taskforce is chaired by the Governor of the RBF and has members that represent each key market.