THE Kina Bank vying for Westpac Bank’s assets to be merged into Kina needs to be analysed realistically.
When we had four banks, the financial system was stable.
Now we will have two banks.
There will hardly be any competition in the market, thus, it will result in the financial market collapsing.
Digital banking seems inevitable.
What happens to the unbanked population?
Digital financing seems inevitable.
We need to provide digitised financial services to the unbanked population.
Liquidity needs to be regulated in comparison to money supply.
The financial and banking system needs to find the equilibrium to make finance affordable and accessible for all Papua New Guineans.
The Bank of South Pacific is on the right path with that.