Cryptocurrencies -Why it is a concern By CBSI Media Article No. : 14/2019 The evolution of new technologies supported by the development of intelligent digital technologies are driving transformational changes in the global economy, including how goods and services and assets are exchanged. (IMF 2016) An important development in this process has been the emergence of virtual currencies such as cryptocurrencies....
Read MoreyouSave LoMobile – Encouraging youSave members to aggressively save for their future By CBSI – Financial Inclusion Unit Article No. : 13/2019 As part of the digital initiatives coordinated by CBSI under the National Financial Inclusion strategy 2, 2016-2020 to improve access to finance and in particular a convenient and safe channel for the wider population to their savings, among these is “youSave LoMobile” a service which enable SINPF youSave members to do their savings any time anywhere through their mobile phones using mobile top-ups. This service is provided by SINPF in partnership with Solomon Telekom and Bmobile....
Read MoreInsurance Sector Market Conduct Directives Honiara, Solomon Islands – The Office of the Controller of Insurance (COI) has released for implementation two new directives. The directives cover two specific areas and these are Market Conduct of Insurance Brokers and Reinsurance Management Strategy for Insurance Companies, which are applicable to all Insurance Brokers and Insurance Companies licensed by COI....
Read MoreSOLOMON ISLANDS NATIONAL FINANCIAL INCLUSION STRATEGY II (NFIS2) 2016-2020 The Second National Financial Inclusion Strategy (NFIS2) is premised on the G20 Principles for Innovative Financial Inclusion following the expiration of the first strategy in 2015. It has a four-year time frame with the work plans anticipated to complete by 2020. The NFIS2 generally extended the work plans of the first national strategy, but with more elaborated and clear objectives. Moreover, the NFIS2 was formulated based on a demand side survey for financial services which was conducted in early 2015. The first national strategy had focused on access to financial services while in this second strategy, the focus is on the usage of financial services. For more details a copy of the Second National Financial Inclusion Strategy (NFIS2) can be downloaded below. Download...
Read MoreDr. Luke Forau appointed as new Governor to the Central Bank of Solomon Islands. The Central Bank of Solomon Islands (CBSI) wish to formally announce Dr. Luke Forau’s appointment as the new Governor to CBSI. Governor-General Sir David Vunagi, made the formal appointment on the 1st of October 2019, in exercise of the powers conferred by Section 41 (1) of the Central Bank of Solomon Islands Act 2012. The appointment was made on the recommendation of the Cabinet, and the Minister of Finance. Download Public...
Read More| Inflation |
|
| (August, 2019) | 1.7% |
| GDP (2016) Actual (source: SINSO) |
|
| Real GDP | SBD$ 4,603m |
| Nominal GDP | SBD$ 8,606m |
| Real GDP Growth | 3.4% |
| Foreign Reserves | |
| (December 04, 2019) | SBD $4,828m |
| Interest Rates (October, 2019) |
|
| Deposit Rate | 0.39% |
| Lending Rate | 10.45% |
| Money Supply | |
| (December 04, 2019) | SBD $5,074m |
| per SBD | Today 16/12/2019 | Last Week 09/12/2019 |
|---|---|---|
| USD | 0.1215 | 0.12130 |
| GBP | 0.0911 | 0.0925 |
| EUR | 0.1092 | 0.10975 |
| AUD | 0.1766 | 0.17753 |
| NZD | 0.1842 | 0.18489 |
| JPY | 13.2815 | 13.17985 |
| SDR | 0.0879 | 0.08805 |
| CNY | 0.8486 | 0.85354 |
| Index | 111.40 | 111.7 |
