Fiji’s South Pacific Stock Exchange Pte Limited (“SPX”) and Papua New Guinea’s PNGX Group Limited (“PNGX Group”) have reaffirmed the commitment to fostering innovation and enhancing sustainability in the capital markets of Fiji, Papua New Guinea and the wider South Pacific region by entering into a Memorandum of Understanding to explore technology sharing...

PNGX recently released the 2024 performance data for the Papua New Guinean market. 2024 represented a year of remarkable growth on the market. The financial services sector emerged as a strong performer, delivering robust returns for investors and setting a high benchmark for the market. Key highlights among PNG companies included: Kina Asset Man...

The Internal Revenue Commission (IRC) of Papua New Guinea (PNG) has announced a number of tax relief measures introduced in the 2025 Budget by the Marape-Rosso Government. These reforms are aimed at addressing the rising cost of living, supporting small businesses, and promoting home ownership across the nation, the IRC said in a statement. Key Reli...

Papua New Guinea (PNG) faces significant challenges in addressing money laundering (ML) and asset recovery. According to the Financial Action Task Force (FATF) Mutual Evaluation Report (MER) published in November 2024, the country lacks skilled personnel, institutional resources, and prioritization to tackle these issues effectively. Consequently, P...

Bank of Papua New Guinea (BPNG), on behalf of the Green Finance Centre (GFC), has signed a significant memorandum of understanding (MoU) with the International Finance Corporation (IFC) and the Securities Commission of Papua New Guinea (SCPNG) for establishing the foundations of a thematic bond market in PNG and developing the next version of BPNG’s Inclu...

The Bank of Papua New Guinea (BPNG) and the Centre for Excellence in Financial Inclusion (CEFI) successfully hosted its inaugural Financial Inclusion Policy Forum and Excellence Awards on Friday November 22 at the APEC Haus in Port Moresby. Speakers at the forum included Governor of the Bank of Papua New Guinea (BPNG) Ms. Elizabeth Genia, BPNG Assistan...

Teachers Savings and Loan Society (TISA), headquartered in Port Moresby, is the largest savings and loan society in Papua New Guinea (PNG) and the South Pacific excluding Australia and New Zealand. Established in 1972, TISA began with a simple yet impactful mission: to provide registered teachers of the Department of Education a safe space to save and ...

The Bank of Papua New Guinea (BPNG) Governor Elizabeth Genia addressed recent significant legislative changes to the Central Banking Act during the recent September 2024 Monetary Policy Statement presentation at the Royal Papua Yacht Club. The amendments, passed by Parliament in September, pave the way for the establishment of a new Monetary Policy Com...

Bank of Papua New Guinea (BPNG) Governor Elizabeth Genia recently outlined the September 2024 Monetary Policy Statement, amid the ongoing economic challenges and the central bank's strategies to stabilize the nation's economy. The presentation took place on October 7th at the Royal Papua Yacht Club in Port Moresby. Reflecting on the previous March M...

The Bank of Papua New Guinea (BPNG) officially launched the Kina and Toea Exhibition, a display celebrating the nation's rich economic history and the 50th anniversary of Papua New Guinea’s currency. This event, held as part of the Bank’s 50th anniversary celebrations, coincides with the upcoming 50th anniversary of PNG's independence in 2025. The Kina...

The Centre for Excellence in Financial Inclusion (CEFI) and the SME Corporation (SMEC) will work in partnership together in advancing financial inclusion in Papua New Guinea following a Memorandum of Understanding (MoU). CEFI Executive Director Mr. Saliya Ranasigne and SMEC Managing Director Mr. Petrus Ralda signed a MoU on Tuesday August 13 at the SME...

The Bank of Papua New Guinea (BPNG), Australia and New Zealand Banking Corporation (PNG) Ltd (“ANZ”) and the Global Green Growth Institute (GGGI) have signed a Memorandum of Understanding (MoU) to integrate and reinforce the Inclusive Green Finance Policy (IGFP) into ANZ’s operations and services. The MoU establishes a framework for cooperation and col...

Credit Corporation (PNG) Limited has achieved a long-held dream of its founding directors by evolving into a fully-fledged bank, a milestone celebrated by Chairman Dr. Albert Mellam during the official licensing event by the Bank of Papua New Guinea (BPNG). The transition to CreditBank PNG marks a pivotal moment in the company’s history, reflecting its...

August 5th marked a historic moment for Papua New Guinea's financial sector as the Bank of Papua New Guinea (BPNG) issued commercial banking licenses to TISA Bank Limited and Credit Bank PNG Limited. This event, held at the BPNG headquarters in Port Moresby, is the first time two banking licenses have been granted on the same day, signaling a significa...

In July, the Global Green Growth Institute (GGGI) launched the Papua New Guinea Climate FIRST project with a series of workshops, starting with the New Ireland Province. The Climate FIRST Inception and Stakeholder Consultation Workshop, held on July 22 in Kavieng, marked the beginning of the project's implementation across seven provinces: Eastern High...

The Centre for Excellence in Financial Inclusion (CEFI) and the Madang Provincial Government (MPG) signed a Memorandum of Understanding(MOU) to introduce financial Inclusion activities in the province. Madang is the first province in the Momase Region and the sixth province to sign a MoU with CEFI, following Milne Bay, West New Britain, Western Highlan...