by the bee has many uses, so does the knowledge that you will gain through this program. you will see that the body of the bee in the logo is a light bulb with the dollar sign representing the knowledge and understanding that you will gain from the program. now to all the parents out there, let me stress that the earlier we start to save and put money aside for future plans, the earlier we are able to achieve our financial goals and enjoy financial security for our children later in life. investing in our children ’ s future must begin today. bis central bankers ’ speeches the financial literacy principles of saving and investing are important to both the financial security of individuals and the financial security of our nation. the task of imparting these principles to the children of fiji will require the support of all stakeholders and most importantly, parents and guardians. parents and guardians are in the best position to ensure that their children continue to save, budget, plan and practice good money management habits. we need to share and talk frankly with our children about money matters and teach them by example of the little things we can do to improve their money management skills. today ’ s bmw program has a series of activities organised by the reserve bank, in collaboration with the ministry of finance, ministry of education, fiji police force, land transport authority, yellow ribbon project, goodman fielder, fire authority of fiji, unicef, and the university of the south pacific. to all the children registered for today ’ s program or watching this on tv, make the most of this opportunity. learn all you can and ask questions of the rbf staff or the stakeholders in our main tent if you do not understand anything you ’ ve heard today. and when you go home, i urge you all to talk about what you have learnt with your family and all your friends. you are more than welcome to visit the reserve bank if you wish to know more. i also thank all the commercial banks and other financial institutions for sponsoring the prizes for our schools competition, and to all other stakeholders who have provided prizes for activities throughout that day. your commitment to the bmw program is greatly appreciated. lastly, i thank the hibiscus event group for allowing the reserve bank to organize this special day and to launch our program. with these words, i have much pleasure in launching the reserve bank of fiji be money wise children ’ s program and wish you all a very enjoyable day. thank you. bis central bankers ’ speeches

barry whiteside : microfinance in fiji introductory remarks by mr barry whiteside, governor of the reserve bank of fiji, at the 2015 national microfinance awards, suva, 13 november 2015. * * * salutations the honourable faiyaz koya, minister for industry, trade and tourism, members of the board of the reserve bank of fiji, our valued sponsors of the 2015 microfinance awards, national financial inclusion taskforce and working group members, all our microfinance entrepreneurs who are with us tonight, ladies and gentlemen good evening and welcome to the national microfinance annual awards, our special evening to celebrate and recognise the best from this important sector of our economy. introductory comments today has been a long day for some of us who came together this morning to strategise on a way forward for financial inclusion in fiji and it has been a pleasure to note the support we have received from all stakeholders. this evening we will witness some inspirational examples of microfinance entrepreneurship. the national microfinance awards is an important event in the reserve bank of fiji calendar, as it recognises our micro entrepreneurs ’ economic empowerment through income generating activities. microfinance is a sector that has a lot of potential for creating new jobs and boosting economic activity and, in turn, contributing to economic growth in the country. it involves among other things, extending loans, some of them as low as fifty dollars, so that people can start their own small businesses and generate income for their families. microfinance, when done well, has the ability to empower people. when our most vulnerable are empowered with financial support to take care of their family, they can pay for the basic needs of food, water and shelter, health care services, a good education for their children and enjoy a better living standard. when this happens, there is of course less pressure on the state, but it also surely must bring a sense of pride to our people. i mentioned that it is important that microfinance needs to be done well. it is not just about giving out small loans and leaving the recipients to get on with whatever it is they are doing. it is about also providing the necessary support structures and skills development so that the people are able to sustain their businesses. often these people are the very ones that need the most help. so we need to hold them by the hand for a while and give them encouragement and proper mentoring. some financial institutions have being doing this well and i