Polye seeks bank access for masses

Don Polye

THERE’S a pressing need for the common people to get much-needed access to financial services as means to improve their lot, Treasurer Don Polye said

Speaking at the opening of a two-day financial inclusion expo last Thursday night, Polye said the people must be integrated as one to benefit from the services that financial institutions such as banks provide. 

The expo was aimed to create awareness on new and existing financial products and delivery channels and prospective developments in finance and banking sector, with special emphasis on financial literacy.

“We also believe that because of the changing times, there are innovative approaches that various financial service providers offer and this is one step in the right direction,” Polye said. 

Noting how remote some of the areas in PNG were, he stressed that the provision of financial services was vital. 

“You go to a place like mine, so rural, so isolated like Kandep and you’ll find that people won’t have access to a bank there and because of this, you have to build a bank (in Kandep). 

“So what do they do? They pick up their cell phone and do their transactions,” Polye said. 

He acknowledged the financial providers for their effort in providing the services. 

Meanwhile, Bank of PNG Governor Loi Bakani had announced the launching of national strategy on financial inclusion and financial literacy and another campaign that BPNG was pushing called “Children and youths’ savings campaign”.

Bakani presented certificates to financial institutions that collaborated in rolling out the campaign. 

“As I’ve always said, we adults missed the boat already in terms of financial education, so we do not want our future generation to be like us. 

“Let us teach them and give them that opportunity to go to another level where they can understand fully how they can manage their lives and money, of course,” Bakani said. 

“So this is why we are coming up with this campaign to boost savings and to bring that savings mentality and the attitude to our young generation,” he said. 

The financial expo was the second with the first one held in Lae last year. 

Bakani said BPNG aimed to make the expo an annual event.

ONE PNG / THE National