Fiji’s new Home Finance Company bank will start operations on the 3rd of next month.
Prime Minister Commodore Voreqe Bainimarama officially launched and unveiled the brand last night.
Commodore Bainimarama said HFC Bank is a joint venture between the Fiji National Provident Fund which owns 75 percent of the bank and the Unit Trust of Fiji which holds the remaining 25 percent.
He also highlighted the National Bank of Fiji debacle which remains the biggest financial scandal in Fiji’s history.
Commodore Bainimarama says the NBF was owned by the people of Fiji through the government.
He said when it was launched in 1976, there were the same high hopes that it would be a people=s bank that would create a new level of prosperity in Fiji.
He said the ultimate blame lies with other governments which presided over a prolonged period in which the fund of ordinary Fijians were misappropriated.
About 100 people will be employed by HFC when full banking operations commence next month.
Story By: Watisoni Butabua
Stay tuned for the latest news on our radio stations
