Sada Reddy can not dictate terms to commercial banks
Reserve Bank of Fiji illegal governor and coup-apologist Sada Reddy better take it easy or else his poor heart will explode on him.
Sada, out of all people, should know that he nor Reserve Bank can dictate terms to commercial banks to set-up microfinance units etc.
He can mouth it but he doesn’t have the powers to enforce it.
So Rada, where the heck is your coup buddy John Prasad, chairman of Fiji Development Bank and PS/CEO for Ministry of Finance?
This is the guy you and Frank should be skinning for his non-performance at FDB.
FDB should be focused on locally owned SMEs and agricultural based projects instead of giving away a big chunk of the bank’s loan portfolio to overseas developers who dig in to the shallow local financing pot to finance their multi-million dollars schemes like that controversial misleading advertising Naisoso development crap in Nadi.
If they are real investors, they should arrive in Fiji with their offshore financing in place ready to be pumped into the Fijian economy.
Not depend on FDB to finance them taking away the much needed loan funds for micro-finance and agro-based financing local business people desperately need.
Why not start with John Prasad’s FDB Sada Reddy?
ANZ is doing its part through its rural banking initiative – something FDB nor Reserve Bank have the capacity to do by reaching out to the rural and sometimes the poorest communities in Fiji.
can someone check whether sada bought stuff for his hotel from overseas just before the devaluation so as not to be affected by it?
if he did, then he knew full well what was going to happen and with that “inside information” took advantage of it for his personal gain ….
fijiforward
April 28, 2009 at 8:58 pm
Kind of like insider training, I can sense another investigation starting once the swine/voreqe
flu is eradicated.
hipflask12
April 28, 2009 at 11:08 pm