Exchange Control
Authority to administer Exchange Controls under the Central Banking (Foreign Exchange and Gold) Regulation (Regulation) is vested in the Bank of Papua New Guinea, which in turn issues instructions, directions and requirements to the Authorised Dealers for implementation, under Regulation 2(2).
The administrative procedures for implementation of the Regulation are provided in the Foreign Exchange Manual, Summary Foreign Exchange Guidelines, Foreign Exchange Reporting Framework, and Enhanced Due Diligence Guidelines Manual, which are released from time to time by the Bank of Papua New Guinea. The administrative procedures of the manuals cover the instructions, directions and requirements that are issued by the Bank. The Foreign Exchange Reporting Framework provides guidance on the completion of the various types of Balance of Payment (BOP) reporting forms and, where relevant, notes the supporting documents that are required. It is to be used by the Authorised Dealers and public, in conjuction with other manuals, including the Foreign Exchange Notices in the Foreign Exchange Manual.
Exchange Control Notices
Requirements for Authorised Bureau of Currency Exchange Dealers
Foreign Exchange Dealers Licencing Guidelines-Authorised Non-Banks Financial Institutions
- Requirements for Foreign Exchange Dealer Licence for Authorised Non-Banks Financial Institutions
- Foreign Exchange Dealer Licence Application
Reporting Framework
- Final FEC Reporting Framework for December 2023 – 13122023
- Final FEC Reporting Framework July 2022-Final
- Final-FEC-Reportframework-March-2015.pdf
- Foreign Exchange Control Reporting Framework (Revised September 2007)
- Foreign Exchange Control Reporting Framework (2005)
Manuals
- Final FEC Manual for December 2023 – 13122023
- Final FEC Manual July 2022
- Final-FEC-Manual-March-2015.pdf
- Foreign Exchange Manual (Revised September 2007)
- Foreign Exchange Manual(2005)
Summary Guidelines
- Final FEC Reporting Guideline for December 2023 – 13122023
- Final FEC Reporting Guideline July 2022
- Final-FEC-Reporting-Guideline-March-2015.pdf
- Summary Guidelines (Revised September 2007)
- Summary Guidelines (2005)
Enhanced Due Diligence
- Final FEC Compliance Checks for December 2023 – 13122023
- Presentation – Authorised Dealers on Reporting and Compliance -13122023
- Final FEC Compliance Checks July 2022
- Presentation -Authorised Dealers on Reporting and Compliance -July 2022
Requirements for Exporting Gold
1. Requirements for Gold Export License
2. Checklist
- GL-Form 1
- GL-Form 2
- GL-Form 3
3. Operational Requirements for Gold Export License
Licensed Gold Exporters
Legislation
- Central Banking (Foreign Exchange and Gold) Regulation 2000
- Central Banking Act 2000
- G900 of 23.12.21-Certification of Central Bank (Amendment) Act 2021
- No. 17 Central Banking (Amendment) Act 2021
Foreign Exchange Directives
- 2015.03.05 – Foreign Exchange Control Directives
- 15-03-05 DIRECTIVES 1 Foreign Exchange Control Directive
- 2016.09.06 – Foreign Exchange Control Directives
- 2016.10.24 – Foreign Exchange Control Directives
- 15 Jan 2017 DIRECTIVES 2 FCA Deposits and Trade Finance Loans
- 2017.04.19 – Domestic FX Market Operations Directives
- 19-04-2017 BPNG AFEDs NOTICE – DIRECTIVE
- 2020.07.22 – Suspension of Forwards Directive
Foreign Exchange Operations