Beside the initiatives mentioned above, the Bank is looking at the regulatory environment for mobile phone banking and has carried out a review of the national payments system with a view to reform the current payments system, with enabling legislation, to improve efficiency with respect to timely clearing of transactions, reduction in costs and risks, within PNG and with the rest of the world.
Distinguished guests, ladies and gentlemen I have focused on the area of financial service and financial inclusion as a vehicle to empower our people in the informal economy to participate in the development process as this area concerns the Bank.