BANKS URGED TO EASE MEASURES
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New Ireland Governor Sir Julius Chan calls on Banks to
ease measures. Phote source. PNG Village.
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The Governor of New Ireland Province, Rt Hon Sir Julius Chan, is calling on the Bank of Papua New Guinea to work collaboratively with the commercial banks to ease the stringent cumbersome measures on the banking services placed on the ordinary people of this country.
The commercial banks have become the accountants, auditors, investigators and policemen when delivering banking services to the people. Even Provincial Governments Administrators and Treasurers suffer at the mercy of junior Branch Managers.
It is becoming increasingly impossible to access easy and simplified banking services provided by the various commercial banks. The commercial banks have secured themselves to the limit by making it hard for Governments, businesses and the ordinary people to open bank accounts, deposit money or cheques into their accounts and even withdraw funds from their own accounts.
He said that the actions of the various commercial banks in imposing stringent measures on the banking services is having a serious and significant impact on the lives of the ordinary people. The people are unable to access money to buy food, and for the small businessmen and woman, their businesses are floundering, thus, going against the National Governments policy to empower our people to engage in economic and business activities.
Sir Julius said while appreciating the position of the commercial banks to protect the funds under their custody from corrupt and unscrupulous dealings by dubious persons and organisations, also suggested that while adopting measures must continue to improve the banking services they provide, must always ensure that such measures do not greatly affect the lives and businesses of our people.
Many of my people are from Islands off mainland were turned away to wait for up to seven days. Even Public Servants on government payroles, carrying pay cheques from our mother Bank of PNG had to wait. Surely BNPG Cheques are honorable when they carried authorized signatures. Who’s controlling who? It makes no sense to me when commercial banks knocked back our Central Bank (BPNG) cheques – demanding seven days clearance. This is disgracefully absurd.
The Governor of The BNPG should remind all licensed commercial banks to revert to their traditional role of banking and leave the non banking roles to the organizations established to be responsible for those roles to exercise. Sir J calls on the Governor of Bank of Papua New Guinea to intervene and direct commercial banks to adopt banking services that are user friendly and easily accessible by all our people. “To live up to the spirit and manifestation in providing banking services in the best interest of the people of PNG”.
The commercial banks have become the accountants, auditors, investigators and policemen when delivering banking services to the people. Even Provincial Governments Administrators and Treasurers suffer at the mercy of junior Branch Managers.
It is becoming increasingly impossible to access easy and simplified banking services provided by the various commercial banks. The commercial banks have secured themselves to the limit by making it hard for Governments, businesses and the ordinary people to open bank accounts, deposit money or cheques into their accounts and even withdraw funds from their own accounts.
He said that the actions of the various commercial banks in imposing stringent measures on the banking services is having a serious and significant impact on the lives of the ordinary people. The people are unable to access money to buy food, and for the small businessmen and woman, their businesses are floundering, thus, going against the National Governments policy to empower our people to engage in economic and business activities.
Sir Julius said while appreciating the position of the commercial banks to protect the funds under their custody from corrupt and unscrupulous dealings by dubious persons and organisations, also suggested that while adopting measures must continue to improve the banking services they provide, must always ensure that such measures do not greatly affect the lives and businesses of our people.
Many of my people are from Islands off mainland were turned away to wait for up to seven days. Even Public Servants on government payroles, carrying pay cheques from our mother Bank of PNG had to wait. Surely BNPG Cheques are honorable when they carried authorized signatures. Who’s controlling who? It makes no sense to me when commercial banks knocked back our Central Bank (BPNG) cheques – demanding seven days clearance. This is disgracefully absurd.
The Governor of The BNPG should remind all licensed commercial banks to revert to their traditional role of banking and leave the non banking roles to the organizations established to be responsible for those roles to exercise. Sir J calls on the Governor of Bank of Papua New Guinea to intervene and direct commercial banks to adopt banking services that are user friendly and easily accessible by all our people. “To live up to the spirit and manifestation in providing banking services in the best interest of the people of PNG”.
PNG Today / PNG Village
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