Hotel staff raise questions over bank loan repayment – FBC News

[Source: Fijian Government]

The Minister of Economy, Aiyaz Sayed Khaiyum is surprised that some banks are still not negotiating new arrangements with their customers regarding the repayment of loans.

This after a member of staff at Sheraton Fiji Resort said during budget consultations yesterday that when she was out of work at the height of the pandemic, she took loan repayment leave with her bank.

She pointed out that before COVID-19, her deductions with the bank loan were based on her previous salary which was at a higher rate.

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However, she says after she was rehired, her bank contacted her and informed her that she needed to start repaying the loan and that the deductions should be at the same rate.

[Source: Fijian Government]

Staff said she tried to make a new arrangement, but the bank refused.

She told the Attorney General it made it even harder for her because she was earning less now.

[Source: Fijian Government]

The lady suggested that if there was a chance, she might be allowed to withdraw funds from the FNPF preserved account to help with repayment.

Responding to her questions, Sayed-Khaiyum said the FNPF would not allow this as it would be for loan repayment.

“My suggestion for you, I don’t know which bank it is, but you can also talk to other banks and I’m surprised they won’t let you make a new deal with a refund because I know that a lot of banks did it then.”

Sayed-Khaiyum adds that many Fijians even came to them about the issue and tried to help them in any way they could.

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