PNG NEWS BLOG

PM MARAPE WELCOMES PLANS BY BANK OF CHINA TO SET UP OFFICE IN PNG Sunday Bulletin, Monday, December 26th, 2022 Prime Minister, Hon. James Marape met with the officials from the Bank of China on Wednesday, December 21, 2022, and welcomed their plans to extend their Representative Office license which they obtained from the Bank of Papua New Guinea (BPNG).  PM Marape has also encouraged the Bank of China to apply for a full commercial banking license from BPNG to set up and operate a full banking network in PNG.  The Bank of China operates in 60 countries around the world and is the world’s fourth biggest banking group. It has a diverse portfolio of investments which also includes investments in airline companies.  “It will be a very significant boost to have such a high-profile and highly-respected global banking group enter the PNG market to not only serve PNG, but also the South Pacific Region with Port Moresby as its regional headquarters,” PM Marape said, “My Government is keen to s

Prime Minister Hon. James Marape has welcomed the decision by Bank of Papua New Guinea (BPNG) to issue a provisional license to the Teacher’s Savings and Loans Society (TISA) to set up a fully-fledged commercial banking operation in PNG. PM MARAPE WELCOMES TEACHERS’ SAVINGS AND LOANS SOCIETY AS A COMMERCIAL BANK by  Luksave imas stap oltaim , Tuesday December  27th, 2022. Prime Minister Hon. James Marape has welcomed the decision by Bank of Papua New Guinea (BPNG) to issue a provisional license to the Teacher’s Savings and Loans Society (TISA) to set up a fully-fledged commercial banking operation in PNG. “We would like a local bank with share offering to ordinary Papua New Guineans, mothers and fathers and to our grassroot population to be set up as soon as possible,” he said. “We need truly Papua New Guinean banks which are owned by our people and are committed to better serve our people. “I await with keen eagerness to see the Teachers Savings and Loan Society formally obtaining a f

 MINISTER POLYE USES SPORTS TO PROMOTE PNG PRODUCTS OVERSEAS The PNG Kumuls are not only worthy ambassador of the country in the rugby league space but also in trade and promoting PNG products overseas, says Sports Minister Don Pomb Polye. Taking a cue from Prime Minister, James Marape's recent four-nation tour, Minister Polye is integrating sports, higher education, trade and economic development for the country's progress in his ministerial engagement overseas.  Using sports as a platform, PNG Coffee has been promoted in the UK market, he said. He is in the United Kingdom with the Kumuls team. Polye clarified that he was not duplicating duties of other fellow ministries, saying sports and trade are related. He said PNG's acting High Commissioner to UK, Mr Joseph Varo and him were treated to a PNG coffee tasting program. "Our PNG coffee promoter and CIC overseas Representative, Mr Mick Wheeler sponsored by International Trade Centre (ITC) - UN and UKAID had arranged U

PNG KINA BANK SCAMS ALERT!!! MAJOR SCAMS TARGETING PNG RESIDENTS LINKED TO PNG KINA BANK. I have just uncovered another major scam targeting Papua New Guineans. This scam looks more neater and very promising. I have made my own investigation and uncovered fraudsters who may have robbed our people already. They are mostly from Nigeria and picking on Papua New Guineans. There is a website called ableminers.org and it looks very professional. You will be asked to nominate a platform and invest accordingly. The returns on your investment are quite huge for any normal person to refuse. – Nixon PDuban. READ ABOUT THIS SCAM HERE: https://papuaniugini.org/alert-major-scams-targeting-papua-new-guinea-residents-has-been-identified/ MAJOR SCAMS TARGETING PAPUA NEW GUINEA RESIDENTS IDENTIFIED LINKED  TO KINA BANK. SCAMS ALERT: ANOTHER INTERESTING MAJOR ONLINE TRADING SCAM UNCOVERED by Nixon Philip Duban - Country Director at World Access Energy PNG Ltd. I have just uncovered another major scam ta