A private institute will continue to provide internationally recognized qualifications for Papua New Guineans.
The PNG government has accredited the Institute of Banking and Business Management.
Today, 49 nationals graduated from IBBM with Australian diplomas and MBA’s from Torrens University.
Taking into account PNG’s needs for quality higher education, the institute now offers Australian courses from diplomas to an MBA program.
IBBM Executive Director, Johnson Pundari says it’s cheaper to do it onshore than in Australia.
“Its cheaper and more convenient to study here in the country,’ says Pundari.
Today marked another significant milestone for the former banking college.
5 Australian accredited MBA’s were awarded to 5 graduates.
Another 44 graduated with Australian Diplomas and microfinance certificates respectively.
Academic Director, Sweta Sud highlighted IBBM’s achievements.
“As an accredited institute we were invited by the Department of Education, Science and Technology to do selections,’ says Mrs. Sud.
The PNG government has recognized the institute. A representative of the Higher Education Ministry spoke on behalf of the Minister, Francis Marus.
The institute has government and private sector confidence. Exxon Mobil signed an agreement to continue its partnership with IBBM.
With new demands for higher standards of education caused by globalisation, Papua New Guinea’s demand far exceeds what the government can provide.
The government has allocated K1.2 billion in its budget this year, but more work needs to be done for its higher institutions.