Banking arrangements extended for another five years
The Government of Niue announced today that it has formally renewed its relationship with Kiwibank to continue providing Niue with banking facilities and services that have been provided in the country since 2013.
Kiwibank first started providing designated transactional banking services to all residents of Niue in 2013. As part of this process, the Government of Niue established Niue Commercial Enterprises Limited which was then appointed by Kiwibank Limited as a Local Services Provider to assist in providing local agency services.
Hon. Dalton Tagelagi, the Premier of Niue says that Kiwibank plays a vital role in Niue and for connecting the island to the rest of the world.
“We acknowledge that Kiwibank’s willingness to operate and provide banking services to the people of Niue has been transformational – in particular this has allowed for the normal electronic transfer of funds between Niue and New Zealand which has eliminated foreign exchange fees, and generally provided our people with various of the core services available to Kiwi in New Zealand, ” says Tagelagi.
Kiwibank currently serves over 1,400 Niueans on the island, which is almost the entire population of Niue.
Kiwibank Chief Executive, Steve Jurkovich, says that the renewal of the relationship with Niue marks a proud and close association with the island.
“The Niuean diaspora is a strong community in New Zealand and being able to connect both countries financially as well as facilitate the island’s trade and commerce with the Pacific and the world is a privilege,” says Mr Jurkovich.
The five-year term under the renewed agreement commenced on 1 November 2023.
Tony Reid, Head of Corporate Affairs, Kiwibank 027 405 1174
Julien Leys, GON External Media Relations 021 655 598