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,
Territory of Papua and New Guinea largest series of connected operations ever mounted by the Australian armed forces. Bitter fighting continued in New Guinea between the Allies and the Japanese 18th Army based in New Guinea until the Japanese surrender in 1945. Following the Surrender of Japan in 1945, civil administration of Papua and New Guinea was restored, and under the Papua New Guinea Provisional Administration Act (1945–46), Papua and New Guinea were combined in an administrative union. The Papua and New Guinea Act 1949 united, for administrative purposes only, the Territory of Papua and the Territory of New Guinea as the Territory of Papua and