Children have to be taught about savings – better financial management from an early age.

This was highlighted by the Deputy Prime Minister and Minister for Finance, Strategic Planning, National Development and Statistics, Prof Biman Prasad while officiating at the Better Together: The Networked Path to Financial Literacy workshop organised by the Consumer Council of Fiji at the Holiday Inn in Suva today.

Minister Prasad said parental engagement in this issue was very important and instilling these ideas at an early age could have a lifelong impact on how those who grow up eventually find themselves in a particular fit in the financial world and in life generally.

He also revealed that the Government would relook at laws to ensure that bank process is not an obstacle for people who open bank accounts.

“In some sense, it is almost a nightmare for some people to actually open a bank account. So, it’s very important that our banks also play an important role, use some resources from within the banking system to ensure that financial literacy, financial inclusion is undertaken in a systematic and in a sustainable manner.”