Pacific Island countries, regional institutions and international partners will convene in Nadi, Fiji this week for the Pacific Risk Based Supervision Workshop as part of the Strengthening Correspondent Banking Relationships in the Pacific Project.
The three-day regional workshop held from 19-21 May will be co-hosted by the Pacific Islands Forum (PIF) Secretariat, World Bank and the Reserve Bank of Fiji bringing together financial regulators, technical experts and development partners to strengthen and advance practical solutions that support Correspondent Banking Relationships (CBRs) across the Pacific and Anti-Money Laundering and Combating the Financing of Terrorism.
Correspondent Banking Relationships are essential to the Pacific region’s economic connectivity, enabling international payments, trade, remittances, tourism transactions and access to the global financial system.
As Pacific economies remain heavily reliant on these services, strengthening and sustaining CBR access continues to be a critical regional priority.
The workshop forms part of ongoing efforts under the Pacific Regional CBR Roadmap to strengthen institutional capacity, improve risk-based supervision frameworks and enhance long-term financial resilience among Forum member countries.
Secretary General of the Pacific Islands Forum, Baron Divavesi Waqa, said the workshop reflects the region’s commitment to collective action in addressing shared economic and financial challenges.
“Correspondent banking relationships are essential to the economic stability and connectivity of Pacific Island countries. This workshop demonstrates the Pacific’s commitment to working together with regional and international partners to strengthen financial systems, build supervisory capacity and safeguard access to the global economy,” said Secretary General Waqa.
Discussions throughout the workshop will focus on practical technical assistance, supervisory tools, regional coordination mechanisms and strategies that support sustainable access to correspondent banking services.
The initiative aligns with the 2050 Strategy for the Blue Pacific Continent and reinforces regional priorities to strengthen economic resilience, financial inclusion and sustainable development outcomes across the Pacific.
