Bank of Papua New Guinea Governor visits Buka
The Governor for Bank of Papua New Guinea Mr Loi Bakani is in the Autonomous Region of Bougainville with his board members and staffs to conduct a meeting in Buka.
This is the first time the BPNG board with the governor is in Buka to interact with the business community and hear from the people at the ground, their issues and how the central bank can resolve them through the monetary policy.
Mr Bakani arrived in Buka today with his Assistant Governor Ellison Pidik while his board members arrived yesterday.
The BPNG board members will conduct their meeting today and visit the communities tomorrow to meet with the business houses, Mr Bakani said.
The BPNG Board normally has four meetings every year and from the four meetings, two of the meetings are held outside of Port Moresby at different provinces. The board has chosen Buka as the venue to have its March meeting and the board is in Bougainville for the first time, he said.
The idea of the meeting is to interact with the communities and the people to hear from them the issues they encounter and how BPNG can address those issues, Mr Bakani added.
BPNG is the central bank of Papua New Guinea. It issues currency (Kina and Toea) to the banks and also issues licences to financial institutions, banks and insurance companies. Some of those financial institutions and banks operate in Bougainville such as the Teachers Savings and Loan Society and the Bank of South Pacific (BSP).
Mr Bakani also said that a new bank called Kina Bank would soon launch its office in Bougainville but after it wins favourable shareholders and meets all the requirement of operating a bank.
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