Banking and finance

BSP denies regulator’s anti-money laundering allegations

BSP Financial Group (BFL) has responded to allegations made by the Bank of Papua New Guinea's Financial Analysis and Supervision Unit (FASU) that it was in breach of the country's anti-money laundering laws. Meanwhile, the Bank of PNG's Governor has distanced the central bank from the allegations made by its own unit.
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Securities Commission uncertainty a bottleneck to Papua New Guinea’s growth, says PNGX Chairman

Papua New Guinea took a step closer to resolving a significant governance issue related to its stock exchange, PNGX, following a National Court ruling late last month. However, uncertainty continues to hold back PNG's capital markets, reports David James.
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Still a long way to go: business and economic recovery after COVID

Papua New Guinea is experiencing similar stresses to other economies in the Pacific region due to the impact of COVID-19. Two reports, by the Asian Development Bank and Pacific Trade Invest, highlight both the impacts and a way to recovery.
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Diversify and conquer: what the future holds for Credit Corp in Papua New Guinea

Peter Aitsi, Group Chief Executive Officer of Credit Corporation PNG, says the COVID-19 pandemic has had a significant impact on operations. He tells Business Advantage PNG that the company is moving to a more agile digital platform and diversifying its product range.
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