Loans, mortgage top complaint list – RBF

The RBF building in Suva. Picture: FT FILE

Loans and mortgage issues constituted the largest part of all complaints received by the Reserve Bank of Fiji (RBF) in the quarter ending September 2022.

According to RBF’s quarterly report, a total of 11 complaints were assessed in quarter three this year. Of this, nine were new complaints and two were complaints carried forward from the previous quarter. For complaints lodged this quarter the majority (56 per cent) were received from the Central Division. This being five complaints, while there were three from the Western Division and one from the Northern Division.

As stated in the report released December 5, loans and mortgage issues were the leading concerns against the banking and credit insurance industry, followed by access to accounts and withdrawals. The inconsistent application of policies, lack of communication, incorrect information rendered to customers and systems security were some of the contributory factors to the complaints received.

Of the 11 complaints, eight have been resolved within the quarter. The three unresolved complaints include the two carried forward from the previous quarter. There has been a 43.8 per cent decline in complaints escalated to the RBF compared with the previous quarter.

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