The New Zealand Pacific Remittance Project A Joint Project
Between the Reserve Bank of New Zealand Ministry of Pacific Island
Affairs Ministry of Foreign Affairs (NZAID) AusAID In cooperation
with the World Bank
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PROJECT OBJECTIVES More competitive market. Greater
transparency. Better informed consumers. Wider use of formal
channels.
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The NZ Pacific Remittance Project PHASE ONE: To stimulate
greater competition and innovation in the remittance market, and to
assist remitters to make informed choices when sending money home.
PHASE TWO: Promoting financial capability.
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MoneyPACIFIC 2020 GOALS These goals aim to deliver for Pacific
Peoples by 2020: all school children to receive financial education
through core curricula; all adults to have access to financial
education; simple and transparent consumer protection to be in
place; and to halve the number of households without access to
basic financial services.
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The Ripple Effect of Financial Literacy
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What Is Financial Literacy? The ability to make informed
judgements and to take effective decisions regarding the use &
management of money.
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There are 4 aspects to financial capability FINANCIAL
UNDERSTANDING Understanding the concept of money. FINANCIAL
COMPETENCE Knowing how to look after & manage money. FINANCIAL
RESPONSIBILITY Making personal life choices, & thinking about
the ethics of money. FINANCIAL ENTERPRISE Using resources in an
innovative & confident manner.