Te Ao Māori — an evolving and responsible strategy
As New Zealand’s central bank, we are the kaitiaki (guardian) of Aotearoa’s economy and financial system. Through our Te Ao Māori (Māori world) strategy, we are building relationships with tangata whenua to influence the long-term economic wellbeing of Aotearoa.
About the strategy
The strategy is intended as an evolving and transformative journey that will bring together the many threads that already exist within our approach and extend them in new directions.
A critical part of achieving our vision of being a ‘Great Team, Best Central Bank’ is broadening our stakeholder engagement, our approach, and our policy knowledge to become a more inclusive central bank.
As New Zealand’s central bank, Māori values are part of our national identity – how we see ourselves and how we are viewed by the world. Similar to the state sector but also using our own operational independence, we acknowledge Te Tiriti and our commitment to Te Ao Māori in our own unique way.
Through our Te Ao Māori strategy, launched in 2018, we are building understanding and embracing our history and heritage. We are doing this in 2 main ways:
- by exploring how Māori culture and businesses operate, we can gain unique insights of their contribution and impact on the New Zealand economy
- by adopting Māori values, we can take a long-term view of our core mandate to promote the wellbeing and prosperity of all New Zealanders.
We breathe life into our Te Ao Māori strategy through 3 work programmes:
While we have made considerable progress in each workstream, we continue to be future-focused and looking for opportunities to put our strategy into practice.
We are integrating the unique, intergenerational and long-term view of Te Ao Māori into our core functions by understanding how monetary policy and financial stability impact Māori organisations and vice versa.
We also continue to broaden our knowledge of Māori organisations and their economic and financial challenges and opportunities.
We are broadening our strategic relationships with:
- Māori-owned businesses
- government agencies
- central banks
- other Māori organisations.
We are building partnerships that are enduring and mutually beneficial.
The views and perspectives of the Māori organisations we have engaged with have helped inform our monetary policy decisions, our work on the future of money and our review of the capital adequacy framework for registered banks.
Our review of the capital adequacy framework for registered banks
We are embedding elements of Te Reo Māori (the Māori language) and tikanga (customary practices) into our organisational culture.
The first part of embedding Māori culture is developing the art of storytelling. With the approval of Northern hapu Te Roroa, we have re-imagined the legend of Tāne Mahuta to connect with our stakeholders and tell the story of the Reserve Bank.
Read the legend of Tāne Mahuta
Another important part is ensuring we promote and embrace Te Reo within our organisation. To support this initiative, we signed a Mahi-Tahi agreement (Memorandum of Understanding) with Te Taura Whiri i Te Reo Māori (Māori Language Commission) in 2019. Te Reo lessons, tikanga workshops and other opportunities to understand Māori history and culture are also provided to our staff.
MOU with Māori Language Commission
The strategy is supported by an internal cross-department ohu (working group), senior leadership guidance and board oversight.
For more information about our Te Ao Māori Strategy, email [email protected]
Publications and speeches
Emerging Challenges and Lessons from the Māori Economic Renaissance - Speech delivered to the Federation of Māori Authorities (FOMA) annual conference in Nelson by Governor Adrian Orr — September 2019
Kaitiakitanga: Te Ao Māori o Te Pūtea Matua - Guardianship: The Māori World View of the Reserve Bank - Speech delivered to the Raising Māori Investment Capability Conference in Tauranga by Assistant Governor Christian Hawkesby — February 2020.
Te Ōhanga Māori – The Māori Economy 2018 - This report on the Māori economy was produced by BERL in 2020. It expands on their 2013 report, providing a rich description of the many roles Māori play in the economy of Aotearoa New Zealand.