Business News

Women’s Bank Licensed

PNG Women in Business Microfinance Institute Limited officially received their banking license in a joyous ceremony at the Sioni Kami Memorial Church yesterday.

This institution was established to help women in both rural and urban areas in the country to have access to bank accounts, once they are comfortable with them and purposely for them.

The first women’s micro bank in the country and the Pacific region this new institution aims to have a positive impact on the lives of women in the country.

Women in the Nation’s Capital and the country had a reason to celebrate yesterday after many years of struggle to establish a bank for women in the country.

Giving her official speech yesterday was the Chief Executive Officer of PNGWIB, Thushari Hewapathirana.

Hewapathirana said it took two years to liaise with the Bank of Papua New Guinea to get the license that will enable the institute to provide services to women in the country.

She thanked the founder of the organization Janet Sape, adding that Sape helped to change the country by providing economic development.

Bank of Papua New Guinea Governor, Loi Bakani said women are the best money makers and the bank is a tool and vehicle for better living for them and for the country.

The Governor stated that almost eighty five percent of women in the rural areas did not have a bank account and challenged the organization to reach those women.

The bank has over 15,000 members and want women to be financially equipped and to participate in financial activities.

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