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Solomon Islands | 15 December 2021

National Provident Fund's bank granted license

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Originally published in Solomon Star News.

Wednesday 15 December 2021

The Solomon Islands National Provident Fund (SINPF)-owned Solomon Finance Limited (SFL) has been granted a credit license from the Central Bank of Solomon Islands.

Chairman of the SINPF Board, Dr Jimmie Rodgers announced the granting of the license in a statement on Monday.

He said “I am pleased to take this opportunity to formally announce, the granting of a banking license to our solely owned company, the Solomon Finance Limited, to conduct banking business as a credit institution under the Financial Institutions Act 1998 (as amended) by the Board of Central Bank of Solomon Islands, at its meeting on the 17th November 2021.”

According to Dr Rodgers, this is another major milestone in the Fund’s 45-year journey enabling the Board through Solomon Finance Limited an investee company of the Fund to provide competitively priced financial products to its members.

“Solomon Finance Limited will offer alternative financial products, from personal to home loans to our eligible members so that they can invest in their well-being in education, health, to owning a home and to take part in income-generating activities whilst still in employment and at the same time actively contributing to their retirement savings with the SINPF”.

Read the full article on the Solomon Star News website here.