We hear and see in the media that Bank of PNG regulates the Financial Institutions & the Savings & Loan Societies. What is the prime reason for regulating the Financial Institutions as well as the Savings & Loan Societies? – Bank of Papua New Guinea (PNG) Port Moresby, Papua New Guinea

We hear and see in the media that Bank of PNG regulates the Financial Institutions & the Savings & Loan Societies. What is the prime reason for regulating the Financial Institutions as well as the Savings & Loan Societies?

The Bank of PNG regulates financial institutions and savings & loan societies to protect depositors (You and I), to maintain financial system stability, to promote or create economic activity and growth. It sets strict standards that each of the financial institutions have to meet. BPNG then makes sure the standards are applied; BPNG then issues … Continue reading We hear and see in the media that Bank of PNG regulates the Financial Institutions & the Savings & Loan Societies. What is the prime reason for regulating the Financial Institutions as well as the Savings & Loan Societies?