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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 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 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 ...
Regional Development Banks (Indonesian: Bank Pembangunan Daerah, or BPD) are a type of bank in Indonesia that is established and owned by the local provincial government. Its purpose is to boost regional development and provide initial capital to the province that private banks would not risk giving, as well as giving basic financial services ...
Traditional savings account rates. The Federal Deposit Insurance Corporation tracks monthly average interest rates paid on savings and other deposit accounts, like certificates of deposit, that ...
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A new joint investigation by American Banker and the San Antonio Current details the organization’s many problems and how the bank and insurer is currently “navigating a minefield of its own ...
The Bank Bali scandal occurred in Indonesia in 1999 when Golkar Party officials colluded with the Indonesian Bank Restructuring Agency (IBRA) to coerce Bank Bali chief Rudy Ramli to pay an illegal commission of Rp546 billion (then equivalent to about US$80 million) to private company Era Giat Prima in order to collect Rp904.6 billion owed by two banks taken over by IBRA.