2 Oct 2008

Solomons' Central Bank assures people that the country's banks are safe and solid

4:45 pm on 2 October 2008

The Central Bank of Solomon Islands says people's money in the country's three main banks is safe.

It was responding to public's concern over the current financial crisis hitting major banks in the United States.

The bank's governor, Denton Rarawa, says the Solomons' banks are not exposed to US institutions that are at risk.

"I'm just assuring the public who put their money in the banks that their money is safe, because the financial institutions that hold their money are sound and safe. Two of the banks are from Australia and one from PNG, and they are sound."

Denton Rarawa however says inflation is a huge problem due to rising costs of fuel and food.