BankHeadOffice.com         Bank Head Office Worldwide   ♦ Loan Calculators ♦ Mortgage Guides ♦ Banking FAQs ♦ Banking Institutions ♦ Central Banks Worldwide       Home  »  Central Banks Worldwide  »  Bank of Papua New Guinea Bank of Papua New Guinea The Bank of Papua New Guinea is the central bank of Papua New Guinea. It was established by the Act of Parliament (Central Banking Act, 1973) Previously to Papua New Guinea's independence, the central bank was a branch of the Reserve Bank of Australia, then the colonial power. Mission of the Bank of Papua New Guinea is to achieve price and financial stability to contribute towards national economic growth and development.   Bank of Papua New Guinea's main function is to issue currency and to act as the banker and financial agent to the Government. It is also in charge of regulating banking and other financial services and manages the gold, foreign exchange and any other international reserves of Papua New Guinea. The Bank shall uphold core values that are an integral part of its vision, mission and corporate culture. In pursuit of this, the Bank shall perform the following functions:  • Confer upon the Bank of Papua New Guinea certain functions and powers including formulation and implementation of monetary policies and regulation of the financial system;  • Make provision for and regulate Papua New Guinea currency; and  • Make provisions in respect of foreign exchange and international reserves. In achieving the functions as mentioned above, the Bank commits itself to providing effective support functions through a sound banking and financial control system, appropriate information system and the development of competent and qualified staff. Bank of Papua New Guinea HQ Address: Douglas Street Port Moresby Papua New Guinea Tel: +675 322 7200 Fax: +675 321 1617 Website: www.bankpng.gov.pg Currency: Kina Banking Hours: Monday - Friday : 8.45am - 3.00pm   Bank of Papua New Guinea must be well managed and pursue a goal-oriented approach, as consistent as possible with international best practice. Bank of Papua New Guinea also responsible in determined the Base Rate in Papua New Guinea. List of banks governed by the Bank of Papua New Guinea » ANZ Bank » Bank of South Pacific » Westpac Bank » Maybank DISCLAIMER The content comes from Internet, reasonable efforts are made to maintain accuracy of information published. However, information could contain errors or inaccuracies and is presented without warranty and statutory means. No liability is assumed for errors or omissions. Viewers are advised to consult their banker or financial consultant for complete information and their professional advise. All trademarks, logos, brand names and copyrights are the property of their respective owners. © 2011 - 2022 BankHeadOffice.com ® All Rights Reserved