Bank of Papua New Guinea Bank of Papua New Guinea The Bank of Papua New Guinea is the central bank of Papua New Guinea. Its 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. Mr Loi Martin Bakani is the current governor of the bank. Banking came to Papua in 1910 with the establishment of a branch of the Bank of New South Wales in Port Moresby. In 1916,
Papua New Guinea ASEAN member state in the future. In 2012, despite a refugee crisis at the border of Papua New Guinea and West Papua, the country was steadfast in its support of Indonesia, which promised Papua New Guinea a greater role in ASEAN in the future. By 2017, the Indonesian-led genocide against West Papuan natives peaked with almost 25% of the native population killed within a 50-year period. The realisation caused massive backlash from Oceanian nations against Papua New Guinea's policy on West Papua. In January 2017, Papua New Guinea gave citizenship to 138 West Papuan refugees in a bid to calm