Weighing Economic Benefits Against Banking Risks A new legislative proposal, SB 12-33, in Palau—the Community Reinvestment Act (CRA)—seeks to reshape how local banks utilize deposits, igniting discussion on its potential to transform the nation’s economic landscape and the risks it may bring. Policy Overview The legislation would require banks operating in Palau to reinvest a […]
Author Archives: Leilani Reklai
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Minatobashi Bridge renovation symbolizes deepening Japan-Palau partnership
By Leilani Reklai, Island Times | July 17, 2025 KOROR, Palau — Palau and Japan reaffirmed their long-standing friendship on Tuesday during a groundbreaking ceremony to launch the renovation of the historic Minatobashi Bridge in Malakal, a vital transportation and economic link for the island nation. The $12 million reconstruction project, funded through a grant […]
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Palau considers U.S. refugee proposal; key questions remain on capacity, rights, and impact
Koror, Palau — President Surangel Whipps Jr. has introduced a draft agreement with the United States that would allow Palau, at its discretion, to accept third-country nationals currently in the U.S. who are seeking protection but cannot be sent back to their home countries. The proposed arrangement, titled the Asylum Support Agreement, gives Palau the […]
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Japan calls on Palau to amend Marine Sanctuary Law to support Okinawan Fishing Fleet
KOROR, Palau — Japan’s Ambassador to Palau, His Excellency Hiroyuki Orikasa, has called on the Palauan government to swiftly approve an amendment to the Palau National Marine Sanctuary (PNMS) law, warning that failure to do so could end a century-old fishing relationship between Okinawa and Palau. Speaking at the groundbreaking ceremony for the Minatobashi Bridge […]
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Palau sets stage for 2026 Pacific Islands Forum leaders meeting
KOROR, Palau — The Republic of Palau is gearing up to host the 55th Pacific Islands Forum Leaders Meeting (PIFLM) in 2026, the most high-profile regional gathering to take place in the country since it last hosted in 2014. President Surangel S. Whipps Jr. formalized the preparation process with Executive Order No. 495, establishing an […]
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President Whipps proposes digital payment system, but lawmakers raise concerns after Stablecoin Audit
KOROR, Palau (July 14, 2025) – A new bill introduced by President Surangel S. Whipps Jr. seeks to create a government-backed digital payment system in Palau, aiming to reduce reliance on expensive credit card networks and make everyday payments faster and cheaper. The bill, Senate Bill No. 12-35, would allow people to use a new […]