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 is supported by the Philippines and co-observer Timor-Leste. The Papua New Guinea Defence Force (PNGDF) is the military organisation responsible for the defence of Papua New Guinea. Papua New Guinea is often ranked as likely the worst place in the world for violence against women. A 2013 study in "The Lancet" found that 27% of men on Bougainville Island, Papua New Guinea, reported having raped a non-partner, while 14.1% reported having committed gang rape. According to UNICEF, nearly half of reported rape victims are under 15 years of age and 13% are under 7 years of age. A report by