By Rocky Issou
Former BSP CEO Robin Fleming and Senior Lecturer and Head of Banking Services and Finance Division at UPNG Dr. Solomon Awili have been named as public interest directors for the PNG Stock Exchange (PNGX).
Minister responsible for the PNG Security Commission Richard Maru made the announcement yesterday.
“We have now this Government (Marape/Rosso) appointed two of the best financial experts in PNG to the board of the Port Moresby stock exchange to represent the Government.”
“Robin Fleming, the former CEO of BSP and we have also decided to appoint Dr. Solomon Awili to be the other board director of the Port Moresby stock exchange.” Maru stated.
Minister Maru also announced that on behalf of the Marape Rosso Government to undertake various regulatory reforms to improve Governance, disclosure, compliance, investor protection confidence and create platforms for capital raising and investment, as such the appointments of the duo was based on merit.
“I think if we put very credible experts, industry leaders in such positions it will give confidence to investors to start trusting our stock exchange to start bringing their stock to start listing in the Port Moresby stock exchange” said Maru.
The Minister also revealed that major work has been already started to modernize capital markets with a serious of regulatory reforms being undertaken to build capacity at the regulatory and market side, this will be introduced when Parliament sits in August.
