The Bank of Papua New Guinea (BPNG) has officially launched a new K100 banknote into circulation, honouring the legacy of one of the nation’s most influential leaders, the Late Sir Julius Chan, marking one year since his passing.
Speaking at the national launch 27 on January at the Stanley Hotel in Port Moresby, BPNG Governor Elizabeth Genia said the new K100 note represents both a tribute to Sir Julius’s enduring contribution to Papua New Guinea and a reaffirmation of the country’s economic sovereignty and identity.
The launch follows a request made by Prime Minister James Marape last year for the central bank to design a new K100 banknote to honour Sir Julius Chan’s legacy. The note is now formally issued as legal tender and began circulation on January 28 through commercial banking partners across the country.
“This is an important national moment,” Governor Genia said, describing the K100 as a banknote that “moves through every part of our economy,” carrying trust, value and a story about who Papua New Guineans are as a people.
New K100 Note Design
Produced in partnership with long-standing printing partner Note Printing Australia (NPA), the new K100 banknote features a portrait of Sir Julius Chan alongside carefully selected cultural and historical symbols reflecting his leadership and Papua New Guinea’s heritage as a trading nation.
The front of the K100 banknote retains the iconic image of Parliament House, representing the nation’s sovereignty and identity. The National Crest of Papua New Guinea – a bird of paradise sitting on a Kundu drum and spear – also remains.
The new design is legal tender from today and represents a permanent transition to a new standard design for the K100 note.
Governor Genia acknowledged NPA Chief Executive Officer Malcolm McDowell and his team for understanding the national significance of the project and delivering a banknote that reflects the values that defined Sir Julius’s public life — care, discipline and respect.
The design incorporates the Toea armband from the Trobriand Islands, symbolising long-standing traditions of commerce and exchange that predate modern currency. Imagery of the New Ireland shark caller and a traditional canoe represent courage, skill and leadership, while the lakatoi sailing in the distance reflects historic trade routes and Papua New Guinea’s outward-looking future.
“These are not simply decorative elements,” Governor Genia said. “They carry meaning — meaning rooted in our history, culture and identity.”
Sir Julius Chan’s Foundational Role in BPNG
Governor Genia highlighted Sir Julius Chan’s pivotal role in establishing the Bank of Papua New Guinea itself. In 1973, as the country’s first Minister for Internal Finance, Sir Julius personally led negotiations to ensure Papua New Guinea would have not just a bank, but an independent central bank — professional, credible and uniquely Papua New Guinean.
She said Sir Julius understood that true independence included the ability to define national value, a principle reflected in his decision to name the country’s currency the Kina and the Toea, anchoring money in local culture, language and place.
“For the Bank of Papua New Guinea, Sir Julius Chan is not only a national leader,” Governor Genia said. “He is foundational to our institution.”
Governor Genia emphasised that a currency’s strength lies in the trust placed in it and its reach across the country. She said BPNG’s responsibility is to protect that trust through financial stability, sound policy and implementation of the National Financial Inclusion Strategy.
Through these efforts, the Bank works to ensure the value represented by the K100 note is accessible to all Papua New Guineans, including women, young people and communities in the most remote parts of the country.
The Governor also noted that the new banknote includes inclusive technology, with embedded features designed to assist people with vision impairment to use the currency independently and with dignity.
Circulation and Legal Tender Status
From January 28, the new K100 note was released into circulation through commercial banks, and all newly issued K100 notes will carry the updated design. Existing K100 banknotes will continue to circulate alongside the new version.
“As is standard practice, both designs remain legal tender,” Governor Genia said. “Both are worth exactly one hundred Kina. There is no loss of value — only an addition to our national story.”
She invited Papua New Guineans to reflect on the legacy of Sir Julius Chan when holding the new note — a leader of discipline, trade and vision, who believed Papua New Guinea could stand confidently among nations.
