[File Photo]

Fijians will now be able to access a reliable mechanism which will address their grievances, thereby fostering trust and confidence in Fiji’s financial sector.

This as the Reserve Bank of Fiji has announced the establishment of the Office of the Financial Services Ombuds as announced in the 2024 National Budget address.

The FSO will serve as an impartial platform for resolving disputes, specifically tasked with investigating, mediating and ensuring fair resolutions between consumers and financial services providers that are licensed and regulated by the RBF.

Wati Seeto will serve as the inaugural Financial Services Ombudsperson.

Seeto has 25 years of legal experience including 15 years of experience in financial regulation and consumer protection having previously served in senior roles at the Capital Markets Development Authority before transferring to the RBF in 2010.

Governor RBF, Ariff Ali says the creation of the FSO is a significant milestone in their ongoing efforts to enhance consumer protection and ensure the integrity of financial system.

He says they are confident that under Seeto’s guidance, the FSO will effectively address consumer concerns and contribute to a more transparent and accountable financial sector.

Consumers seeking assistance from the FSO will be required to first exhaust the current complaints avenues provided by the financial institutions.

The FSO will begin operations from today.