13 Jun 2013

Samoa church plans bank

1:35 pm on 13 June 2013

Samoa's Congregational Christian Church is planning to establish a loan and commercial banking firm in Samoa.

Savalinews reports the venture was one of the main issues discussed during the church's annual conference at Malua.

The general secretary, the Reverend Dr Iutisone Salevao, says the church has four million US dollars to fund the bank's launch and church leaders are looking to add up to two million dollars to the venture.

The Reverend Salevao says it is a long-term project that will take up to four years to become fully operational.

He says the loan and banking service will be for church members only.