Reserve Bank integrates Te Tiriti o Waitangi into its operations
As the steward of New Zealand’s financial system, the Reserve Bank (RBNZ), places Te Tiriti o Waitangi at the heart of its mission.
Understanding and honoring the treaty is fundamental to the central bank’s operations and objectives.
Embedding Te Tiriti Principles
The Reserve Bank has developed a framework based on key principles derived from Te Tiriti o Waitangi to guide its interactions and policies.
These principles are designed to foster a meaningful partnership, ensure equity, and actively protect Māori interests.
Meaningful partnership
This principle underscores a partnership ethos, necessitating actions that are reasonable, honest, and in good faith. It reflects a bilateral respect for authority and a shared framework of rights and responsibilities.
Equity
Ensuring that Māori have equal access to the Bank's activities is crucial. This includes participation that is reflective of their aspirations and needs.
Active protection
The Bank commits to safeguarding the interests of Māori, which includes cultural treasures and the right to operate within cultural preferences.
RBNZ’s strategic implementation
RBNZ is proactive in integrating these principles into its daily operations and long-term strategic goals.
The RBNZ Act 2021 outlines the bank’s purpose to promote the prosperity and wellbeing of New Zealanders and contribute to a sustainable and productive economy. Implementing Te Tiriti principles is seen as essential to fulfilling these objectives.
Building relationships
RBNZ places high importance on building and maintaining strong relationships with Māori communities. This involves engaging with iwi and Māori on policy issues, fostering long-term partnerships, and understanding cultural preferences.
Enhancing representation and competence
Increasing Māori representation within the bank and improving cultural competency are key goals. This includes normalizing the use of te reo Māori and respecting Māori cultural protocols in public engagements.
Ongoing commitment to Te Tiriti o Waitangi
RBNZ recognises that the interpretation and application of Te Tiriti o Waitangi continue to evolve. By adapting its policies and strategies to better reflect the principles of Te Tiriti, the bank aims to be more responsive to the needs of all New Zealanders and particularly the Māori community, ensuring their active participation in the financial system.
