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Bank of Papua New Guinea, the country's central bank, was established in 1973. The National Australia Bank (NAB) incorporated its operations in PNG in 1974. Then the government encouraged the bank to sell equity to local citizens. BSP conducted public offerings in 1980 and 1981, with the result that local citizens came to hold 13% of the bank's ...
The Bank of Papua New Guinea (Tok Pisin: Beng bilong Papua Niugini) is the central bank of Papua New Guinea, which has a core mandate to ensure price stability and maintain macroeconomic growth. To achieve this, it discharges four main functions; 1. responsible for the formulation and implementation of monetary policy, 2. ensure financial ...
Bank of Papua New Guinea; Bank South Pacific; P. Papua and New Guinea Development Bank This page was last edited on 18 January 2020, at 21:27 (UTC). Text is ...
The Agricultural Bank was renamed the Rural Development Bank of Papua New Guinea in 1994 following Asian Development Bank intervention, which continued through 1996. [12] After being renamed, the bank focused on rural loans only, with a preference for small and medium-sized operations. [13] The bank was insolvent in 2004, resulting in a new ...
The districts of Papua (as now reduced by the reorganisation of July 2022, which separated twenty regencies previously part of Papua Province into three new provinces of Central Papua, Highland Papua and South Papua) and their respective regencies are as follows (as of December 2019).
Sir Henry ToRobert GCL KBE (22 October 1942 – 18 October 2018) was a Papua New Guinean civil servant who was the first governor of the Bank of Papua New Guinea.He also played a major role in developing the Credit Corporation (PNG) Ltd and was president of the Papua New Guinea Olympic Committee for 30 years.
He and his brothers founded the Mulia Group of companies. In 2009, he fled to Papua New Guinea one day before he was sentenced to jail for his role in the embezzlement of banking funds. After 11 years on the run, he was arrested in Malaysia in July 2020 and sent to Indonesia, where he was later jailed for bribing police and a public prosecutor.
In 1997, Bank NISP entered a joint venture with OCBC Indonesia, with the opening of PT Bank OCBC-NISP, with an initial paid-up capital of 150 billion rupiah. [6] Since then, OCBC has been buying shares from shareholders within the bank and also from President Director and CEO, Parwati Surjaudaja, who sold 22.5% of her shares to OCBC in 2004. [7]