BSP initiated a 90-day notice to cease operations on June 9, 2023, citing reasons already communicated to the Bank of Papua New Guinea and the Financial Analysis and Supervision Unit, which have also been relayed to the government.
Following a request from the government, BSP extended the account closure deadline to 8th March 2024. Presently, Puma Energy's account with BSP remains operational.
By March 8, 2024, Puma will have had a nine-month window to responsibly manage its affairs and establish alternative banking arrangements.