The department is responsible for promoting financial inclusion and financial literacy. These are recent functions of the Central Bank mandated under the Central Bank of Samoa Act Amendments 2010.
The objectives of the department in carrying out its functions include:
- achieving greater shared economic prosperity through financial inclusion and literacy
- assisting in developing deep and dynamic financial markets
- assisting in safeguarding the integrity, stability, and soundness of the financial system
In the pursuit of these objectives, the areas of focus for the department are:
Financial Consumer Affairs and Market Conduct
- fostering sound business practices by financial service providers and intermediaries, bolstering financial literacy and capability of consumers, and ensuring effective consumer protection regime
Financial Infrastructure,
- fostering the creation of innovative financial products and distribution channels to adequately serve the needs of financial consumers
Stakeholder coordination,
- working in collaboration with key stakeholders in programme delivery to pursue an inclusive and progressive financial system
Last updated 03 Nov 2024