Financial Supervision & Regulation

Objective: To maintain a sound and reputable financial system

The Financial Supervision and Regulation Department (FSRD) is responsible for executing one of the Central Bank's statutory roles of regulating, licensing, and supervising the financial system. Its aim is to promote and maintain financial stability, encourage the soundness and efficiency of the financial system, and reduce the potential damage from a bank failure or other financial system stresses.

Prudential Supervision Approach

Prudential supervision concentrates primarily on detecting early signs of weaknesses in financial institutions ( FIs) performances and their overall financial conditions. Through regular on-site inspections and offsite reviews and analysis of financial information and reports provided, financial institutions performances are measured against the Bank’s prevailing prudential standards and requirements and reflecting on any significant trends or issues of concern in their financial positions.

Statutory and Supervisory Framework:

1. Principal Acts:

a. The Central Bank of Samoa Act 2015

b. The Financial Institutions Act 1996 [Consolidated version as of December 2022]

c. The Insurance Act 2007

2. Prudential Statements/Standards/Guidelines:

Licensed and Supervised Financial Institutions and Intermediaries

1. Licensed Financial Institutions (FIs) and Intermediaries as of 31 January 2025: (refer list of licensed FIs 2025)

a. Four (4) Commercial Banks (2 locally owned and 2 foreign owned).

b. 5 Insurance Companies (1 Life and 4 General)

c. 16 Money Transfer Operations (MTOs) / Restricted Foreign Exchange Dealers

d. 3 Insurance Brokers

e. 16 Insurance Agents (2 Corporate Agents and 14 Individual Agents)

f. 1 Credit Institution

2. Supervised Financial Institutions:

a. Commercial Banks

b. Insurance Companies

c. Non-Bank Financial Institutions:

i. Samoa National Provident Fund (SNPF)

ii. Samoa Housing Corporation (SHC)

iii. Development Bank of Sāmoa (DBS)

iv. Unit Trust of Samoa (UTOS)

d. Credit Institution

Other Publication Data and Information:

1. Banking System Data

The Banking System Graphs and Data provide a comprehensive overview of key financial indicators within Samoa’s banking sector. These datasets and visual analyses are compiled and published quarterly by the Financial Supervision & Regulations Department, offering detailed insights into the sector’s performance, liquidity, capital adequacy, and overall financial stability.

2. Financial Soundness Indicators

The Financial Soundness Indicators (FSIs) provide key measures of the strength and stability of Samoa’s financial system. These indicators are compiled and published quarterly by the Financial Supervision & Regulations Department, supporting ongoing monitoring of the banking sector’s performance, resilience, and risk exposure.

3. Domestic General Insurance Industry Data

Domestic general insurance industry data shows the financial performance and position, operational metrics on a quarterly basis.  It includes data main balance sheet items and their ratios.  Other data covers the types of risks insured, such as motor, home, health and key performance indicators like profitability and solvency position.

4. List of Licensed Financial Institutions 2025

5. Commercial Banks Interest Rates, Fees and Charges.

6. Licensing Requirements to conduct a Foreign Exchange Business in Samoa 2015