Pioneer BPNG Governor passes on

- LATE Sir Henry ToRobert who was the first Governor of the Bank of Papua New Guinea (Central Bank) has passed on.

In condolences statement Grand Chief Sir Michael Somare, the first Prime of Papua New Guinea, said Late Sir Henry was instrumental in the changing of the Australian Dollar to the PNG Kina just before Independence in 1975.

“I am proud to have associated with such capable Papua New Guinean in the early years of the birth of our nation,” Sir Michael said.

Sir Henry was a quiet man and a good advisor to the Government in his capacity as the Governor of the Bank of Papua New Guinea.

“I pay tribute to him for his contributions not just in banking but the entire country in many spaces,” he added.

“On behalf of Lady Veronica and my family, I convey our sincere condolences to members of the ToRobert family. May his soul Rest in eternal Peace,” Sir Michael said from his home in Wewak.  

-       Late Sir Henry ToRobert. Image: Facebook / PNG.
 

BPNG announces Kina Facility Rate for Nov 2018

PNG’s Central Bank, the Bank of Papua New Guinea (BPNG) through a statement to the media has advised the public of its Kina Facility Rate (KFR) for the month of November 2018. 

From Port Moresby, the Bank of PNG based on its assessment of key microfinance indicators, states that the KFR for the month of November 2018 is maintained at 6.25 percent. 

This announcement is authorized by Central Bank Governor Loi M. Bakani. – Via Garamut News.