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Banking came to Papua in 1910 with the establishment of a branch of the Bank of New South Wales in Port Moresby.In 1916, the Australian government-owned Commonwealth Bank, established a branch in Rabaul and agencies in other towns, largely to support the banking needs of the Australian Army and its troops who had taken control of the former German colony of New Guinea.
The Kina (ISO 4217 currency code: PGK, the currency symbol: K) is the currency of Papua New Guinea. It is divided into 100 toea . The name Kina is derived from Kuanua language of the Tolai region, referring to a callable pearl shell used widely for trading in both the Coastal and Highlands areas of the country.
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Prize-linked savings accounts have the potential to help combat low rates of savings among Americans. They offer more incentive than a traditional savings account as an individual may be discouraged earning a low rate of return in a standard savings account. US families that play the lottery all tend to spend roughly the same amount, regardless ...
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