Pursuant to Section 4 of the Samoa International Finance Authority Act 2005, the Authority is mandated and empowered to perform core functions.
The functions alluded to below broadly represents the varying functions performed on a daily basis by the Authority. Moreover it reflects the diverse nature of operations of the Authority. On the one hand the Authority performs a regulatory and supervisory function where the ultimate objective is to protect and uphold the reputation and integrity of our Centre whilst on the other hand promote the financial facilities and explore ways to enhance the attraction of Samoa as an international finance centre.
The diverse nature of the Authority’s functions balances out the reputational risks with the commercial interest of the stakeholders in our finance centre.
Functions of SIFA
- To monitor and supervise the conduct of international financial services provided within Samoa.
- To protect and maintain the good repute of Samoa as a centre for international financial services.
- To promote Samoa as a centre for international financial services.
- To make recommendations for the creation and improvement of any facilities likely to enhance the attraction of Samoa as a centre for international financial services.
- To be responsible for the general administration of international financial services legislation and for the collection of all fees, charges and other receives thereunder.
- To make recommendations for the introduction, amendment, or replacement of legislation pertaining to international financial services, companies and other forms of business structures
- To develop national objectives, policies, and priorities for the orderly administration of international financial services in Samoa.
- To ensure coordination and cooperation between the public sector agencies, private corporations and non-governmental organisations concerned in any way with international financial services.