The Reserve Bank of Fiji (RBF) has observed a sharp increase in financial consumer complaints in the second quarter of 2025, as detailed in its latest Complaints Management Bulletin. Licensed Financial Institutions (LFIs) received 1,657 complaints, marking a 127.9% increase from the previous quarter and an 8.2% rise compared to the same period last year. Almost all complaints were resolved at the institutional level, with the RBF directly assessing 11 complaints, mainly concerning banks.
The banking sector recorded 1,546 complaints, comprising 93.5% of all financial sector complaints. This surge was mainly attributed to system failures, customer service delays, and electronic banking issues. The RBF expressed concerns over persistent system outages and poor service, urging banks to simplify responses and avoid technical jargon.
In the insurance sector, complaints decreased by 8.2% from the previous quarter yet increased significantly by 86.7% year-over-year, primarily due to rising premium charges and denied motor vehicle claims. Meanwhile, credit institutions faced 31 complaints, with less than half resolved. Lending-related complaints spiked by 250%, often tied to loan processing delays and unclear procedures.
These trends suggest ongoing systemic issues in Fiji’s financial services, echoing concerns voiced by the Consumer Council of Fiji over the years. Historically, issues such as vehicle insurance delays and documentation hurdles have been significant complaints. The Consumer Council has been proactive in advocating for improved transparency and consumer education in these sectors, aiming for reforms that might yield better service standards and heightened consumer trust.
The sharp rise in complaints indicates a pressing need for regulatory bodies and financial institutions to continuously improve service quality and reliability. By addressing these challenges, there is potential for the Fijian financial industry to enhance consumer satisfaction and trust, contributing to a more stable and effective financial environment.