Savings clubs play a very important role in the country’s cash economy, says Central Bank Governor Denton Rarawa when he officially opens a four day savings club workshop in Honiara this morning.
Jointly organized by the Central Bank of Solomon Islands, CBSI, and the Pacific Inclusion Financial Programme, PIFP, the workshop aims to strengthen existing saving clubs as well as encourage additional ones.
Officially launching the workshop, Governor Rarawa says savings clubs are service providers to the un-banked parts of the country, especially in the rural areas.
“In most cases maybe some of you are the only financial institution or body or group that provides some kind of financial service for the people around or for your members. So in that respect you are performing a financial service to the un-banked portion of our communities, and I think that is why we in the Financial Inclusion Task Force are very interested in what you are doing, very interested to see how the savings clubs in our country develop and continue to provide these financial services”.
He adds the Central Bank’s Financial Inclusion Task Force targets 70-thousand new customers by 2015.
The workshop ends on Thursday.