19 May 2017

Over a third of Ni-Vanuatu don't have access to banks

7:08 am on 19 May 2017

A new survey from the Reserve Bank of Vanuatu has found more than a third of the adult population do not have access to banks.

The Vanuatu Daily Post reports the results of a survey were released at an economic symposium in Port Vila this week.

Acting Prime Minister, Ham Lini, said the government would be working with the Reserve Bank on policies to address barriers to financial inclusion in Vanuatu.

The Reserve Bank Governor Simeon Athy said financial inclusion should be viewed as the linchpin through which small island countries can advance their economic development.

The survey also shows that while men own more bank accounts in Vanuatu, women are found to be more active in using banking services.