PNG PM Marape Trusts Bank South Pacific

Papua New Guinea Prime Minister James Marape says the Bank of South Pacific has performed exceptionally well and he has no doubt about the bank’s compliance capability.

He said this following the allegations that the Bank of Papua New Guinea’s Financial Analysis and Supervision Unit or FASU alleged that BSP was in breach of the country’s anti-money laundering laws.

The Prime Minister says the Bank of PNG’s Financial Analysis and Supervision Unit has the right to regulate banks in the country and BSP is no exception.

However, Mr. Marape says he did not question the country’s number-one  Bank on its credibility.

Mr. Marape says he has yet to receive full details of the allegations of money laundering and meet with the parties concerned.


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