Te Ao Māori: an evolving and responsible strategy
The Reserve Bank’s Te Ao Māori strategy, which is being developed and implemented through 2019-22, brings together many threads that already exist within the Bank’s approach and extends them in new directions. It is intended as an evolving and responsive way to engage with the increasingly important and diverse Māori economy. The term Te Ao Māori means ‘Maori world’.
Like other government agencies that have adopted Treaty principles and Māori strategic initiatives, the Reserve Bank has a strong commitment to Te Ao Māori. This commitment is manifested through the Bank’s policy programmes, external stakeholder engagement and internal cultural capability.
By exploring the impacts and consequences of its policies, the Bank will be better enabled to contribute more fully to its dual monetary policy mandate and maintaining a sound and efficient financial system. The Bank sees this as an essential part of its strategic priority to enhance its policy frameworks.
One of the ways in which this strategy will evolve is through broadening the out-reach to iwi, rūnanga, Māori-owned businesses, other government agencies, central banks and other Māori organisations. These engagement opportunities will be used to enhance public understanding of the Bank within Te Ao Māori. It will also act as a platform for two-way dialogue supported by the Banks Supervision department and other internal expertise as permits. This will enable the Bank to more deeply understand Māori business, and their economic and financial challenges and opportunities.
The Reserve Bank has also committed to embedding Te Reo Māori and Tīkanga into Reserve Bank culture. We have a number of initiatives planned to support this commitment including our Mahi-Tahi agreement (MOU) with Te Taura Whiri I te Reo Māori (Maori Language Commission).
The strategy is supported by an internal cross-department ohu (working group), senior leadership guidance, board oversight, and an external advisory panel of industry experts.