The newly formed Monetary Policy Committee (MPC) of Papua New Guinea has kept the Kina Facility Rate (KFR) unchanged at 4.0%, while lowering the Cash Reserve Requirement (CRR) to 11%, in its inaugural meeting held on March 11. The decisions were announced in a media release issued by Bank of Papua New Guinea (BPNG) Governor Elizabeth Genia, who chairs ...

The Green Finance Summit 2025 marked a strong set of commitments and partnerships, reinforcing the country’s green finance agenda and accelerating its position as a leader in sustainable finance across the Pacific region. This summit was hosted by the Green Finance Centre (GFC), under the auspicious of the Central Bank of Papua New Guinea (BPNG), broug...

Papua New Guinea’s PNGX Group Limited (“PNGX Group”) and Fiji’s South Pacific Stock Exchange Pte Limited (“SPX”) have together released a Request For Proposal (“RFP”) for an integrated Trading Platform and Central Securities Depository solution for the Pacific stock exchanges. The release of the RFP follows PNGX and SPX entering into a Memorandum of Un...

Westpac is proud to reaffirm its position as a pioneer in financial services across the Pacific by continuing its long-standing partnership with Verifone, a global leader in payment technology. This partnership, established in 2016, underscores Westpac's commitment to delivering innovative and efficient payment solutions to businesses in Papua New Guinea....

Prime Minister James Marape has announced a bold tax reform strategy aimed at fostering investment, increasing consumer spending, and driving local industry growth. The reforms will take effect once Papua New Guinea’s economy reaches a K150 billion milestone, a target expected to be achieved within the next three to four years. He announced this at the Ba...

Westpac continues to deliver on its commitment to empower communities with essential financial knowledge by kicking off its 2025 series of Financial Basics for My Business online webinars. The first session included business owners and representatives from various organizations both in Port Moresby and outside centres, who all successfully completed the p...

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...