The Commerce Commission believes the financial sector market is not competitive like other sectors in the country.
Chairman, Dr. Mahendra Reddy made the comments as Commission began its six week investigation on the fairness of the level of bank fees and charges, interest rates charged and paid, and the fees and commission levied by banks in Fiji.
The Commission is examining the Consumer Council Report on Banking Services from the Consumer's Perspective this week and will formally write to various stakeholders from next week seeking their views.
The report is a result of a two year survey by Consumer Council of Fiji of over 510 bank customers in the country and has highlighted issues like the lack of knowledge by customer service reps, the length of time to be seen by officials and even the high rates charged by banks.
Story by: Ronal Deo
News
Commerce Commission begins investigation on fairness of bank fees
By fijivillage.com
17/03/2011 17:07
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