Bank, uni sign deal for programme

By GIDEON KINDIWA
Bank of PNG has signed a memorandum-of-agreement with the University of PNG to fund a new K300,000 post-graduate programme.
Bank Governor Loi Bakani signed the MOA with acting vice-chancellor Vincent Malaibe to support the post-graduate programme on corporate governance.
He said corporate governance was an important part of running and managing an institution as good directors and managers were not easy to find.
“It is a major component of what we do today in the institutions that we regulate or manage,” Bakani said.
“It has been difficult to find good directors these days.
“That’s why we have many of the current directors remaining for prolonged periods of time.
“They cannot be replaced because they are really good and we can’t find new ones to replace them after their terms are over.
“That’s why we partner with UPNG to run the corporate governance programme in order to train and build new professionals with the knowledge, skills and experience to sit in board rooms and direct with good governance.”
Assistant Governor Ellison Pidik said that PNG did not have enough qualified professionals to sit in board rooms as directors.
He said that was why they came up with a notion of “three pillars” to train and populate many Papua New Guinean qualified professionals.