The Central Bank of Solomon Islands (CBSI) has released another crucial policy guideline on investments, focusing more on the operations of the Solomon Islands National Provident Fund (SINPF).
A statement provided says, the new “Prudential Guideline on Investment for SINPF” provides CBSI the opportunity to monitor, track and engage more closely with SINPF on its investment plans and activities over member’s funds.
The Guideline is issued under sections 8(1)(e) and 8 (1) of the Financial Institutions Act 1998.
The statement says the general background towards its implementation includes; Setting out the Fund’s minimum standards for investments decision-making processes, Strengthen the protection of members’ contribution and to ensure Fund Board and Management put in place a credible investment framework.
According to the policy guideline, CBSI plays a major role in ensuring overall compliance and that risks are analyzed before any form of investments can be fully pursued.
The SINPF Investment Guideline has been implemented since the beginning of this month.