ONE of the aims of the newly established bank in the country – Pan Oceanic Bank (POB) is to ensure people of Solomon Islands can enjoy a more affordable service.
Speaking to the Solomon Star in an interview last week, the bank’s chief executive officer (CEO) Nihal Kekulawala said since last year there were some assessments and work done on the banking services being offered in the country by the other traditional banks.
And based on the assessments, the new bank has came up with a service that was deemed suitable for the locals which is more flexible and affordable for the local Solomon Islanders.
As a bank that is incorporated in Solomon Islands for Solomon Islanders, the bank’s CEO said they want to offer a service that is more flexible.
Since the opening of the bank on July 11th, POB there was a huge response from members of the public to sign up with the new bank.
This was because the process involved in opening an account and loan processing was described as more flexible.
Mr Kekulawala said with regards to opening new accounts its faster and more relaxed.
“The bank is more flexible with the account opening therefore we have more people opening up their new accounts.”
The Solomon Star understands that for most of the customers they need only one or two supporting documents to open up a new account.
Some of them even use their voters ID as a supporting document to open their account, which is more flexible.
The bank’s CEO said because of the flexible requirements many people have also undertaken credit facilities like housing loan, education and personal.
“Some have come to take facilities against their NPF while there are many micro-finance customers joining the bank.”
At the end of last week more than 1500 customers have signed up with the bank and the numbers are expected to grow each week.
Mr Kekulawala believes that most of the new customers may have banked in three of the other commercial banks but decides to open up their accounts with POB.
By MOFFAT MAMU