Pacific's dwindling banking services in the spotlight

Co-hosted by the two countries, 300 people will take part in the two-day event - the first of its kind - including Pacific leaders as well as representatives from commercial banks and international organisations such as the International Monetary Fund. 

The talks will dig into the causes of withdrawing correspondent banking relationships, which are where financial institutions provide services on behalf of another bank, usually in a foreign country.

Australia's Assistant Treasurer and Financial Services Minister Stephen Jones will deliver the opening address on Monday.

"Australia is committed to our Pacific partners, and a sustainable financial system is integral to the strength of our region," he said.