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FCS and RBF ink financial inclusion deal

November 29, 2024 5:54 am

[File Photo]

In a bid to ensure inmates can better reintegrate into society, the Fiji Corrections Service has initiated discussions with the Reserve Bank of Fiji to explore their access to essential banking services while incarcerated.

The FCS says while it actively promotes financial independence for inmates who get paid for employment through its incarceration funds management initiatives, stringent banking requirements often hinder the opening of bank accounts to facilitate payment.

FCS says the gap leaves them vulnerable and limits their ability to receive funds, manage expenses, and establish financial stability.

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FCS Commissioner Dr Jalesi Nakarawa met with Financial Services Ombudsperson Wati Seeto, to explore solutions and enable inmates to access essential banking services while incarcerated and upon release.

During the meeting, Seeto expressed her commitment to collaborating with local banks to create conditional requirements tailored to the unique circumstances of ex-offenders.

In addition to addressing banking access, Seeto highlighted her willingness to introduce financial literacy classes for inmates before release.

She says the tailored sessions will provide critical knowledge on managing personal finances, understanding banking processes, and making informed financial decisions, equipping inmates with skills essential for rebuilding their lives.

Commissioner Nakarawa says ensuring that former inmates can access financial services is a vital step in their reintegration journey.