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The Fiji Times » Report: Bank failed to review applications

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. ....

Medium Enterprises Credit Guarantee Scheme , Credit Institution , Reserve Bank , Licensed Credit Institution , நடுத்தர நிறுவனங்கள் கடன் உத்தரவாதம் திட்டம் , கடன் நிறுவனம் , இருப்பு வங்கி , உரிமம் பெற்றது கடன் நிறுவனம் ,