Bank PNG to introduce national financial inclusion strategy at workshop

AFI member institution Bank of Papua New Guinea (Bank PNG), with technical and financial assistance from the Pacific Financial Inclusion Program (PFIP), and the National Executive Council-endorsed Centre for Excellence in Financial Inclusion (CEFI) will host the National Strategy Workshop for Financial Inclusion and Financial Literacy in Port Moresby, Papua New Guinea on 22-23 August 2013.

The event will convene stakeholders to build upon the priorities for financial inclusion in the Informal Economy Policy 2011 and establish targets for 2014 and 2015 in the nation’s introductory strategy on financial inclusion and financial literacy. It will also form the basis of Bank PNG’s Maya Declaration Commitment set to be announced at the upcoming AFI 2013 Global Policy Forum (GPF) on 10-12 September in Kuala Lumpur, Malaysia.

“Creating an enabling environment to harness new technology that increases access and lowers costs of financial services in an economy where cash continues to be the dominant mode of payment across both urban and rural households is integral to achieving financial inclusion,” said Bank PNG Governor Loi Bakani.

Bank of PNG official press release