"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." 

Joint statement of the Reserve Bank of Australia, Reserve Bank of Fiji, Reserve Bank of New Zealand, Bank of Papua New Guinea, Central Bank of Samoa, Central Bank of Solomon Islands, Banco Central de Timor-Leste, National Reserve Bank of Tonga and Reserve Bank of Vanuatu.