Empower Finance Kibung – Community of Practice to Address Financial Abuse and Product Misuse
Financial abuse affects Papua New Guineans and financial institutions have a role to play in preventing and responding to it. To support financial institutions address financial abuse and product misuse in the Papua New Guinea (PNG) financial sector, the Bank of Papua New Guinea (BPNG) has initiated Empower Finance Kibung. Following on from the successful launch, BPNG’s Empower Finance Kibung will this week hold discussions with financial institutions to introduce a survey on
The Bank of Papua New Guinea (BPNG) has launched a new initiative called Empower Finance Kibung to combat financial abuse and the misuse of financial products within the country's financial sector. This program aims to support financial institutions in their efforts to prevent and respond to these issues. As part of this initiative, BPNG will be engaging with financial institutions this week to introduce a survey focused on financial abuse. Additionally, institutions will be asked to sign a code of conduct related to financial capability, management, literacy, training, safety, and counseling.
This initiative is crucial for protecting Papua New Guineans from financial harm and ensuring the integrity of the financial system.
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