Latest Updates

NPF Launch mobileFund

The Solomon Islands National Provident Fund launched its new product dubbed as the Instant Digital Nanoloan “mobileFund” on the 26th of March, 2024 at the Heritage Park Hotel in Honiara. 

Delivering his key note address to mark the launching, the SINPF General Manager Mike Wate appreciated the continued interest in SINPF’s efforts to serve all Solomon Islands, first through youSave, youSave loMobile and now through mobileFund.

SINPF Participates in International Women’s Day

Female officers of the Solomon Islands National Provident Fund (SINPF) have joined women from other Ministries, NGO’s, Churches, Development Partners and Private sectors to celebrate the International Women’s Day in Honiara on 8 March 2024.

Dr Soma conduct cancer awareness at NPF Office

The month of October is known as the Breast Cancer Awareness Month or Pinktober because of Pink Ribbon Day that falls on Friday 27th of October, 2022.

Dr Soma of Oncology Department conducted the breast cancer awareness on Tuesday 31st; October 2023 at the SINPF Office. He revealed that, breast cancer is the number one cancer killer in Solomon Islands.

Easter Break 2024

To our valued members & Stakeholders

Our offices will be close for Easter Break from 3.00PM Thursday 28/03/24  untill Tuesday 2nd April 2024.

 

 

NPF Online Portal

SINPF Good Members
If unsure your contribution from your employment is yet to be made to your NPF account please visit https://sinpfportal.com/ and check.

 

NPF plans on setting up an investment bank

SOLOMON Islands National Provident Fund (SINPF) has confirmed it has been working on setting up an investment bank to serve its members.

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NPF board chairman Baoro Koraua made the comment when he was asked by this paper on the issue of members’ housing scheme after purchasing Home Finance.

Koraua said the fund is currently working closely with the regulator, the Central Bank of Solomon Islands (CBSI) to set up this investment bank.

He said NPF had already applied some years ago to the CBSI for a banking licence under the Home Finance for home lending but was rejected.

“CBSI rejected the application because it says you can’t have a licence when you are also in the business of constructing houses,” Koraua said.

Koraua explained the reason NPF bought the Home Finance was simply to take away the home lending from NPF and give it to Home Finance, because NPF is not an expert in home lending.

However he said what Home Finance is currently doing is just building houses and selling them.

But the chairman said his board is working on getting this investment bank which will allow members to access loans to help them build their homes, own properties or run businesses.

Koraua said since they did not get a home finance licence, they are working very hard to get the investment bank license.

He stressed that if NPF only goes into the lending market on housing, Home Finance will not survive the market since it is very small.

“That is the very reason why we want to set up this investment bank because that will meet the very need of members...working closely with the Home Finance,” Koraua said.

Adding, this will gradually pave the way for members who would like to own a house, or property to access a business loan up to a certain limit to go to this investment bank.

He said the whole intension is to open up the lower and the medium term lending market because this can’t be done by Home Finance.

NPF General Manager Anthony Makabo further stressed that this investment bank is like a mortgage bank that will solve the problem of members finding difficulties to access borrowing.

Makabo said this bank which acts as a mortgage lending will allow members to borrow certain amount of money to purchase their home.

He said this is an ongoing plan they are currently working on and hopefully this plan will come to pass to help members’ ease of access to borrowing.

The NPF general managers further highlighted that the fund is also looking into undertaking land banking.

Where land can be secured, subdivided and sold to members who can be able to own their homes.

Makabo said this will help members to own land and property which currently is a very difficult thing to possibly find in Honiara and other urban areas.

In supporting the GM, the board chairman said the idea of the land banking is to ensure young people can own properties and not just the old people and those who have money.

Mr Koraua said negotiations are still in place to secure a sizable land to make this land banking a reality.

He said they want to start off in Honiara and later will expand out to the provinces.


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