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,
Provinces of Papua New Guinea the PNG national parliament. The 22 provincial members are chosen from single-member electorates. Each provincial member becomes governor of their province unless they take a ministerial position, in which case the governorship passes to an open member of the province. Immediately before independence on 16 September 1975, Papua New Guinea was divided into nineteen provinces and the National Capital District. These provinces corresponded to the "Districts" of the pre-Independence administration of the Territory of Papua and New Guinea. It had been considered that an independent state with limited resources could ill afford the infrastructure of a two-level quasi-federal governmental structure.