ANISH CHAND The Reserve Bank of Fiji building in Suva. Picture: FT FILE The Reserve Bank of Fiji (RBF) failed to identify and carry out a detailed review and verification process for applications to the Micro, Small and Medium Enterprises Credit Guarantee Scheme (MSMECGS). According to the Auditor- General’s report on compliance audits relating to COVID-19 response, the RBF relied heavily on lending institutions for the correct submission of data and information. The MSMECGS was established by the Government in 2012 to help develop the local business industry, improve private sector lending by alleviating the requirement for high collateral, and stimulate economic growth.