The Reserve Bank of Fiji (RBF) is the central bank of the Republic of Fiji, established in 1984 under the Reserve Bank of Fiji Act (1983).
Article 153(2) of the 2013 Constitution states that “in pursuing its primary objects, the Reserve Bank of Fiji must perform its functions independently and without fear, favour or prejudice but there must be regular consultation between the Reserve Bank and the Minister responsible for Economy.”
The Reserve Bank of Fiji's vision is: “Leading Fiji to Economic Success”.
This is underpinned by their mission:
- Conduct monetary policy to foster sustainable and inclusive economic growth
- Promote an internationally reputable financial system
- Play an influential role in the development of the economy
- Provide proactive and sound advice to Government
- Disseminate timely and quality information to stakeholders
- Enhance operational efficiency through innovation and risk management
- Develop, empower and retain a professional team
The functions, powers, and responsibilities of the Bank are specified in the Reserve Bank of Fiji Act, 1983 and include ”The principal purposes of the Bank" as stated in Part ll, Section 4 of the Reserve Bank Act. They are as follows:
- To regulate the issue of currency, and the supply, availability and international exchange of money;
- To promote monetary stability;
- To promote a sound financial structure;
- To foster credit and exchange conditions conducive to the orderly and balanced economic development of the country;
- To regulate the insurance industry; and
- To regulate the capital markets and securities industry.”