PNG's Bakani on financial system reform

In the speech 'Financial system reform in Papua New Guinea' given on 23 June (published 15 August,) Loi Bakani of the Bank of Papua New Guinea said the Bank of PNG is in a process of establishing a legal framework for the microfinance industry and will soon announce broad guidelines on the licensing requirements for microfinance institutions or microbanks.

"It is our intention that we will exit from our involvement in the development phase of the sector and concentrate on our core role as

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