Category: Media

CBSI warns of another pyramid scheme in Solomon Islands

CBSI warns of another pyramid scheme in Solomon Islands Honiara, Solomon Islands – The Central Bank of Solomon Islands (CBSI) is strongly advising the general public to avoid investing in a new pyramid scheme that is currently being promoted as “One Link Pacifica.”...

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Cryptocurrencies – Why it is a concern

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....

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youSave LoMobile -Encouraging youSave members to aggressively save for their future

youSave 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....

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Press Release -Insurance Sector Market Conduct Directives

Insurance 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....

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SOLOMON ISLANDS NATIONAL FINANCIAL INCLUSION STRATEGY II (NFIS2) 2016-2020

SOLOMON 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...

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Key Statistics

Inflation
(October, 2019) 2.1%
GDP (2016)
Actual (source: SINSO)
Real GDP
SBD$ 4,603m
Nominal GDP
SBD$ 8,606m
Real GDP Growth3.4%
Foreign Reserves
(January 08, 2020)SBD $4,902m
Interest Rates
(November, 2019)
Deposit Rate0.38%
Lending Rate10.47%
Money Supply
(January 08, 2020)SBD $5,057m

Exchange Rates

per
SBD
Today
29/01/2020
Last Week
22/01/2020
USD0.12170.1218
GBP0.09360.0933
EUR
0.11060.1097
AUD0.18030.1775
NZD
0.18640.1844
JPY13.272613.3919
SDR0.08850.0883
CNY0.8422 0.8403
Index112.3111.6

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