Official: PNG needs access to financial services

BANK of Papua New Guinea (BPNG) governor Loi Bakani says the country still has a long way to go in providing access to financial services to more parts of the country.
He said financial service delivery had expended in the country with diversified service providers numbering 14,000 financial services and access points, but this was still not enough.
“We have a long way to go to provide that access to the 10 million people in PNG,” Bakani said.
“Financial services delivery has expanded in PNG and now has diversified service providers offering services through their branches (financial institutions), agents, ATMs and eftpos.
“PNG now has 14,000 financial services or access points throughout the country.
“It’s still not enough.
“We still have a long way to go to provide that access to the 10 million people of Papua New Guinea.
“PNG citizens have access to banking services have increased and currently at 3.4 million bank accounts are maintained in Papua New Guinea.
“Having bank accounts is one but access is the main problem.”