Moni Plus gives Alotau an option

The National Business

By CLARISSA MOI
LICENSED finance company Heduru Moni Ltd, trading as Moni Plus, now has five branches across the country after the opening of the Alotau branch last week.
Founder Bernard Chan, during the opening of its Alotau branch on Tuesday last week, said they were now in Alotau to give quality service to the people and also create competition in the financial sector.
“You have got an option now to check our services and rates,” he said.
“If you are not happy with our rates, you can negotiate with our management.
“We are flexible.
“We are licensed and we are compliant, subjected to the bank regulation.
“We are transparent.”
Chan also emphasised on responsible lending.
“We don’t give money for nothing,” he said.
“We make sure you have got the ability to repay and make sure there’s enough money left in your pocket to buy food, clothes and other necessities.”
Milne Bay acting provincial administrator Sharon Mua thanked the company for choosing Alotau as a hub to bring financial services to the people.
“A lot of our public servants have come to seek financial assistance from Moni Plus and we want to say ‘thank you’ for coming to Alotau,” she said. “Everyone is able to access services that are available in the country and now brought closer to us in town.”
National sales manager Lawes Omeri said the company had grown significantly over the years.
He said Moni Plus was incorporated by the Bank of PNG and started trading in 1998 as a financial intermediary, providing small personal loans for employees of the public and private sectors.
“In Feb 2006, Moni Plus became a fully-licensed financial institution by the Bank of PNG under the Banks and Financial Institutions Act 2000,” Omeri said.
“The licence enables Moni Plus to accept deposits and expand into asset finance to meet demand in the commercial sector.”
Omeri said the company created a state-of-the-art, online foreign exchange delivery service which was made possible by an enactment by the Bank of PNG in May 2012.
The company has plans to open more branches around the country next year. Other branches recently opened this year were Downtown Port Moresby, Lae, Mt Hagen and Kokopo.