Financial System Development

The department is responsible for the promotion of financial inclusion and financial literacy. These are the recent functions of the Central Bank mandated under the Central Bank of Samoa Act Amendments 2010

The objectives of the department in carrying out its functions include:

  • achieving greater shared economic prosperity through financial inclusion and literacy
  • assisting to develop deep and dynamic financial markets
  • assisting to safeguard the integrity, stability and soundness of the financial system

In the pursuit of these objectives the areas of focus for the department are:

    Financial Consumer Affairs and Market Conduct

  • fostering sound business practices by financial service providers and intermediaries, bolstering financial literacy and capability of consumers, and ensuring effective consumer protection regime

    Financial Infrastructure,

  • fostering the creation of innovative financial products and distribution channels to adequately serve the needs of financial consumers

    Stakeholder coordination,

  • working in collaboration with key stakeholders in programme delivery to pursue an inclusive and progressive financial system

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Last Updated: 01 Oct 2017