for Fiji

Fiji

Fraud squad The Fiji government is to set up a Serious Fraud Squad to deal

with white collar crimes and

insider trading in leading

corporate and government institutions. Prime Minister Sitiveni Rabuka says the squad will be independent from the police force’s Crimi

nal Investigation Depart

ment and from the Fiji Intel ligence Services.

The Fiji Times says the squad is to be formed amidst widespread concern over al leged shady business deals involving various loan and

investment organisations. Rabuka says the squad will have its own prosecutors.

Hawaii bank

for Fiji

The Bank of Hawaii plans to establish a branch in Suva later this year. The bank was granted a banking licence on January 28 by the Reserve Bank of Fiji.

The bank is a wholly owned subsidiary of Bancorp Hawaii Inc and has total assets of SUSIO.3 billion.

The Fiji operation will expand the bank’s wide represen tation in the Pacific region which includes branches in Singapore, Tokyo, Seoul, Guam, American Samoa, Federated States of Micronesia, Republic of Marshall Islands, Common wealth of the Northern Mariana Islands and the Republic of Palau. It also has partly owned affiliate banks in Tonga (Bank ofTonga), Tahiti (Banque de Tahiti), Western Samoa (Pacific Commercial Bank Ltd) and New Caledonia (Banque de Nouvelle Caledonie). The bank also has representative offices

in the Phillipines and Hong Kong.

Rabuka: squad independent