The Tonga National Reserve Bank has this week given the green light for the Pacific International Commercial Bank to operate in Tonga.
A Chinese businessman who lives in China was said to be the main shareholder. There are other 5 Chinese investors involved.
Saia Moehau, one of the business partners reportedly said in the month of March that other Tongan business partners include Lady Robin Tu’ivakano Kaho, Mishka Tu’ifua, Mele Fonua and Mahe’uli’uli Tupouniua.
The Tonga China Friendship Association (TCFA) applied for a licence in March to allow the new bank to be registered and that it be established at the hub of the capital city Nuku’alofa along Taufa’ahau Road.
The new bank is expected to be opened to the public in about 6 months from now.
Sometimes when a business is growing, it needs a little help.
Right now Kaniva News provides a free, politically independent, bilingual news service for readers around the world that is absolutely unique. We are the largest New Zealand-based Tongan news service, and our stories reach Tongans wherever they are round the world. But as we grow, there are increased demands on Kaniva News for translation into Tongan on our social media accounts and for the costs associated with expansion. We believe it is important for Tongans to have their own voice and for Tongans to preserve their language, customs and heritage. That is something to which we are strongly committed. That’s why we are asking you to consider sponsoring our work and helping to preserve a uniquely Tongan point of view for our readers and listeners.
