People lack saving culture, says Bank Governor Bakani

THE Bank of Papua New Guinea Governor, Loi Bakani said many people in the country lack a savings culture and continuously spend their earnings without a proper budget for savings and expenditure.

“This financial exposition will give opportunity for the Highlands region and Papua New Guinea as a whole to bring financial services down to people and the activities happening here are for our people and children to open bank accounts to start savings,”  Bakani said this  during the third  Financial Inclusion Expo in Mt Hagen last Friday.

He encouraged people to seek help from the various banks and financial institutions to assist them look after their hard earned cash and make more money with further investments from savings.

He said people must attend trainings with churches and non-government organisations that partners with BPNG to conduct financial literacy trainings on how to make and look after money.

“These trainings will teach you how to budget   your earnings from the sales of goods from a small business or salaries and learn how to save and spend that money.  

You must know how to look after your money before going to banks and financial institutions to get assistance of their banking products and services offered,” Governor Bakani said.

Press Release