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,
Monarchy of Papua New Guinea realms, sovereignty is constitutionally vested in the citizenry of Papua New Guinea and the preamble to the constitution states "that all power belongs to the people—acting through their duly elected representatives". The monarch has been, according to section 82 of the constitution, "requested by the people of Papua New Guinea, through their Constituent Assembly, to become [monarch] and Head of State of Papua New Guinea" and thus acts in that capacity. The document thereafter sets out the role and powers of the monarch. The monarch is represented by the Governor-General of Papua New Guinea—appointed by the monarch upon the nomination