Standing Committee on Economics, Finance and Public
Administration
Media release, 25 March 1998
PHARMACIES OFFER TO PROVIDE BANKING SERVICES
The Pharmacy Guild of Australia will appear before the House of Representatives
Financial Institutions Committee's Regional Banking Inquiry in Canberra
on Thursday.
At a public hearing the Pharmacy Guild will outline the possibility
of pharmacies offering financial services through the National Pharmacy
Intranet. The Guild believes this "could provide a virtual private network
of banking outlets covering every regional and remote location in Australia".
David Hawker MP, Chairman of the Committee, said "The establishment
of bank agencies and franchises within small businesses, particularly
in small rural communities, is increasingly seen as an alternative to
traditional banking services. The proposal put forward by the Pharmacy
Guild has the potential to ensure that rural customers are not denied
access to basic financial services."
"An important issue in this inquiry is the extent to which agencies
and franchises can effectively fill the gaps left by the withdrawal of
traditional banking services from rural and remote areas."
The Pharmacy Guild is suggesting that the Pharmacy Intranet be utilised
to provide a range of financial services, a move which will particularly
benefit small communities which have suffered the withdrawal of banking
services. When fully developed the Pharmacy Intranet is intended to electronically
link all 5000 community pharmacies throughout Australia.
The Committee expects to canvas a range of issues with the Pharmacy
Guild including privacy and security concerns, the proposed services to
be offered, the costs involved in setting up the system and the level
of Government and financial industry involvement.
Release ends
25 March 1998
Further information:
David Hawker MP (Chairman) 02 - 6277 4837
Janet Connaughton (Inquiry Secretary) 02 - 6277 2375
e-mail: EFPA.Reps@aph.gov.au
PUBLIC HEARINGS PROGRAM - CANBERRA
26 March 1998
House of Representatives
Committee Room 2R2 Parliament House
CANBERRA
Thursday 26 March 1998
10.15am - 11.15am - Pharmacy Guild of Australia
- Mr Stephen Greenwood, Executive Director
- Dr Michael Tatchell, Director, Health Economics
- Mr John Lee, Guild Commercial
- Mr Humphrey George, Branch Secretary, SA
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