Mr. Loi Bakani
Mr. Loi M. Bakani CMG, from West New Britain Province, was seventh Governor. He became Governor and Chairman of the Board of the Bank of Papua New Guinea Board in December 2009 for a term of 7 years. Prior to becoming Governor, he was Deputy Governor for Policy and Regulation.
He commenced duties as Governor on 09 December 2009. A career Central Banker, who worked his way up to Deputy Governor, Policy & Regulations prior to his appointment.
He oversaw new trends in central banking activities in the areas of microfinance and financial inclusion, as well as new areas of policy responses in light of the global financial crisis of 2008-2009.
Mr. Bakani has been instrumental in leading the Government’s program for promoting microfinance sector and micro bank development in Papua New Guinea. In 2010, he took the bold decision to drive Financial Inclusion and Financial Literacy program through the promotion of various payment initiatives like electronic, mobile phone and agent banking with the main aim to make financial services accessible to the unbanked population. He also chaired the board of the then newly established Centre for Financial Inclusion (CEFI) tasked with coordinating all initiatives on Financial Inclusion in the country.
Mr. Bakani holds a Masters Degree in Economics from the University of Wollongong Australia, and a Bachelor of Economics Degree from the University of PNG.