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 ownership of numerous small businesses and their commercial monopoly in the islands led to the rioting. The Chinese have long been merchants in Papua New Guinea. In the same year, Papua New Guinea asked various Southeast Asian nations for their support for Papua New Guinea's full membership bid in the Association of Southeast Asian Nations (ASEAN). Indonesia supported the bid after Papua New Guinea supported Indonesia's hold on West Papua. However, the Christian-majority Philippines and Buddhist-majority Thailand, Vietnam, and Cambodia have expressed displeasure over Papua New Guinea's anti-LGBT laws, stating that equality-friendly Timor-Leste would most likely be a more feasible