A two day Credit Union Legal and Compliance Workshop was held at the Quality Inn Conference Room in Honiara.

The workshop opened yesterday with the theme: 'Credit Unions: Legal and Compliance'.

Speaking at the introduction of the workshop, the Registrar of Credit Unions, Rick Hou said that the workshop is the second workshop conducted by the Central Bank of Solomon Islands and the Office of Registrar of Credit Unions over the past 12 months.

Mr. Hou said that the workshops were held for the members of the Credit Unions that of the Solomon Islands Credit Unions League.

He said that the first workshop held September last year was for the Board of Directors and Management of the Central Malaita Credit Union Limited.

Mr. Hou said that the two day workshop is based on a legal framework which is required of participants conducting and managing business in accordance with the provisions of the Credit Union Act.

He said that the workshop is very important as it will bring valuable information and ideas to the participants who will learn from it and put into practice.

"I hope that as a result of this workshop, we will see more effective compliance with the legal requirements under the Credit Unions Act," said Mr. Hou.