Like all other developing countries, PNG is constantly challenged to provide answers or ways as to how best it can wrestle the problems associated with poverty and lack of employment opportunities. Its 5 million population, of which 80% live in the rural areas have been denied development opportunities for many years, partly due to the deterioration in infrastructure conditions and lack of banking services.
Given these challenges, we recognized that the weaknesses of the financial system needs to be addressed in order to improve the provision of financial services required for private sector development. This includes addressing the lack of banking and financial services in the rural communities. The recent surge in cases of various forms of money schemes are an outcome of this problem.