ELECTRONIC BANKING CAN BOOST RURAL SAVINGS CLUBS

Commercial Banks meet Savings Club Workshop Participants. Photo: Courtesy of CBSI

Commercial Banks meet Savings Club Workshop Participants. Photo: Courtesy of CBSI

New forms of electronic and mobile phone banking recently introduced in the country can boost and improve the basic services provided by rural Savings Clubs.

This was the message highlighted to participants during the four day Savings Club workshop co-hosted last week by the Central Bank of Solomon Islands,CBSI and the Pacific Financial Inclusion Programme,PFIP.

A statement from CBSI said a panel consisting of the three commercial banks namely: Westpac, BSP, ANZ and the South Pacific Business Development,SPBD told leaders of rural Savings Clubs who attended the workshop that improvement in the telecommunication network, especially in rural locations has improved access to their services.

The banks highlighted, their investments in electronic banking infrastructure and other banking services have increased and continues to reach out to the remote rural areas providing greater opportunities for people.

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