Central Banking

Papua New Guinea welcomes mobile banking advances

loi-bakani

At the beginning of June, the governor of the Bank of Papua New Guinea, Loi Bakani, revealed the central bank had "no objection" to a nationwide rollout of a mobile banking product that had been on trial in one region.

Bakani said mobile banking is an "important channel" for delivering financial services to the unbanked population and also encourages financial institutions to embrace technological advancements to extend financial services to the rural population of the country.

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