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The Minister of Finance and Treasury, Hon Harry Kuma has approved tax refunds for airtime credits (mobile top-ups) used as youSave deposits. Formal announcements was made by the Ministry of Finance and Treasury (MOFT) Solomon Islands National Provident Fund (SINPF) and the Central Bank of Solomon Islands in a joint press conference today, 21st of August at MOFT. The DCGA Government is committed to making the lives of every ordinary Solomon Islander better during this COVID-19 situation. The Government recognizes that during these tough times, livelihoods are challenged by the impacts of COVID-19 and especially for the rural livelihoods and the informal sector who toil very hard daily to make ends meet. In this juncture, the Government acknowledges that the youSave micro-pension savings scheme has been assisting the informal sector to save for their essential needs and creating economic opportunities for rural the citizens and informal workers.The approval means that for any amount of deposits that youSave members make to their account using airtime credit, a 10% of the amount deposited will be refunded directly to the members account. This is a huge commitment made by Minister Kuma under the DCGA Government Policy to encourage the informal sector, especially those youSave members residing in the provincial and rural areas to remit their savings to their accounts, using mobile top-ups via the youSave loMobile Service. Read the full article

CBSI CONDUCTS CREDIT UNION SYMPOSIUM 2020The Central Bank of Solomon Islands successfully conducted a Credit Union Symposium this week on Tuesday 18th August in Munda, Western province.This year’s symposium focused on the theme “Capacity Building by embracing the Credit Union Operating Principles.” Building on from last year’s symposium theme “Building Resilience in the Credit Union Culture.”The event brought representatives and stakeholders of credit unions from Honiara and other provinces together to network and share knowledge, experience and skills. A total of 22 participants attended the event.Committees that manage members funds had the opportunity to upskill themselves during the Symposium. Skills learnt were to ensure safety and prudent practices were adopted when discharging their role and responsibilities.This year’s theme is significant as it underscores the important role that credit unions continues to perform in the society and focusing more on the key message which is to embrace operating principles of Credit Unions during the COVID-19 uncertainties.When credit unions are stronger and become more effective, they can pool resources to help each other increase capacity to make more of an impact.In Read the full article

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