The Reserve Bank of Fiji announced that the Credit Union Act 2025 has commenced with effect from 1 March 2026, bringing credit union oversight under the central bank’s administration. The Act mandates the Reserve Bank of Fiji to perform the functions assigned to it, including the registration and licensing of entities that carry out credit union business. Commencement follows industry consultations on the Credit Union Bill led by the Reserve Bank of Fiji and the Parliamentary Standing Committee, and enactment by the Republic of Fiji Parliament during its December 2025 session. A 12-month transitional period applies under section 169, during which the Reserve Bank of Fiji will shortly begin engaging with relevant credit unions and cooperatives to support the transition. Credit unions and cooperatives undertaking credit union business are instructed to continue operating as normal until the Reserve Bank of Fiji determines and approves its position on licensing and registration.
Reserve Bank of Fiji 2026-03-05
Reserve Bank of Fiji begins administering the Credit Union Act 2025 and prepares to register and license credit union business
The Reserve Bank of Fiji announced the commencement of the Credit Union Act 2025, effective 1 March 2026, placing credit union oversight under its administration. The Act requires the central bank to register and license entities conducting credit union business. A 12-month transitional period is in place, during which credit unions and cooperatives will continue operations pending licensing and registration decisions by the Reserve Bank of Fiji.