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Samoa Commitment for the Pacific Islands

Summary:
Joint statement from the South Pacific Governor's Meeting[*] The Central Bank Governors of the South Pacific region met in Samoa on the occasion of the 33rd Pacific Central Bank Governors' meeting. The meeting's theme was ‘Strengthening Collaboration’, with the objective of promoting the prosperity and economic welfare of our member nations. At the conclusion of the meeting the Governors stated: "We the Pacific Central Bank Governors affirm our intention to leverage information technology to deepen and enhance the efficiency of our financial systems, so as to best support economic development and inclusion in our region. The specific strategic initiative

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Joint statement from the South Pacific Governor's Meeting[*]

The Central Bank Governors of the South Pacific region met in Samoa on the occasion of the 33rd Pacific Central Bank Governors' meeting. The meeting's theme was ‘Strengthening Collaboration’, with the objective of promoting the prosperity and economic welfare of our member nations. At the conclusion of the meeting the Governors stated:

"We the Pacific Central Bank Governors affirm our intention to leverage information technology to deepen and enhance the efficiency of our financial systems, so as to best support economic development and inclusion in our region.

The specific strategic initiative agreed to at the meeting is to lead the development of a regional ‘know your customer’ facility and associated regionally-linked payment and settlement arrangements.

We believe leadership from the Governors is necessary to bring a timely solution to a critical component of regional infrastructure. We will be looking to coordinate relevant international agencies, and private sector banks and service providers, to partner in this important initiative."

Reserve Bank Australia
The Reserve Bank of Australia (RBA) came into being on 14 January 1960 as Australia's central bank and banknote issuing authority, when the Reserve Bank Act 1959 removed the central banking functions from the Commonwealth Bank. The bank has the responsibility of providing services to the Government of Australia in addition to also providing services to other central banks and official institutions. It currently consists of the Payments System Board, which governs the payments system policy of the bank, and the Reserve Bank Board, which governs all other monetary and banking policies of the bank.

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