NSL on anti-money laundering compliance

The Trustee Board of Nambawan Super Limited (NSL) has called for relevant parties to resolve allegations of anti-money laundering compliance issues.

Trustee Board Chairman, Reg Monagi made this call to BSP Financial Group Limited (BFL) to work with the Bank of PNG (BPNG) and Financial Analysis and Supervision Unit (FASU), following public statements made by BFL rejecting claims of non-compliance with money laundering laws.

Numberwan Super Limited members are 12% shareholders in BSP Financial Group Limited.

Numberwan Super Limited Board has come out supporting recent calls by the Bank of Papua New Guinea and Financial Analysis and Supervision Unit to BSP Financial Group Limited over allegations of anti-money laundering.

Trustee Board Chairman, Reg Monagi said NSL considers it is important that the companies it invests in, operate to the highest governance and compliance standards.

NSL Board further called on BPNG, FASU, and BFL to cooperate and resolve the issues that have been raised to ensure that confidence is retained by its customers, shareholders, and its international banking partners.

Monagi said the Fund will continue to invest in BFL and monitor closely any issues of interest to its members’ investments and to ensure the Fund acts in the best interest

 Nambawan Super has a net assets of more than K8 billion and has invested locally and abroad to grow the retirement savings of more than 200,000 of its members. rest of its members.

Press Release