23 Nov 2007

Fiji banks said to be flush with cash

11:11 am on 23 November 2007

Commercial banks in Fiji are reported to be flush with cash that customers are not borrowing.

The governor of the Reserve Bank has revealed that liquidity in the commercial banking system has reached an all time high of more than 186-million US dollars.

Savenaca Narube says the Reserve Bank has deliberately allowed this to rise because it has a credit ceiling in place.

But he says the figure is too high and the Reserve Bank will be reviewing this when it reviews the credit ceiling early in the new year.