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 institutions. This includes 500 schools of the Evangelical Lutheran Church of Papua New Guinea. Papua New Guinea has six universities apart from other major tertiary institutions. The two founding universities are the University of Papua New Guinea, based in the National Capital District, and the Papua New Guinea University of Technology, based outside of Lae, in Morobe Province. The four other universities which were once colleges were established recently after gaining government recognition. These are the University of Goroka in the Eastern Highlands province, Divine Word University (run by the Catholic Church's Divine Word Missionaries) in Madang Province, Vudal University