The Bank of Papua New Guinea, through its Vision 2050 and accompanying Strategy, is working to provide economic opportunities for all Papua New Guineans by creating a supportive and inclusive financial system and economy. By implementing monetary policy that supports price stability and the effectiveness of the financial system, we can support the people of Papua New Guinea to have access to economic opportunities and as a result, experience improved economic wellbeing.
We aim to assure price stability and a sound financial system, including the payment system, which enables efficient trade and commerce. Our monetary policy settings aim to create the conditions whereby business activity is enabled, supported and promoted.
An important aim for the Bank is to support the expansion and diversification of the financial sector to provide competitive access to financial products and services for all PNG citizens. Financial inclusion is a priority for the Bank, and we wish to see cost-effective and fit-for-purpose financial services delivered to all, including those in rural and remote locations.
Our Values
The culture and values of the Bank are the way we work and the way we expect to conduct ourselves. The values show how we will work together and with others. Six values underpin our success and effectiveness.
- Integrity - through integrity the Bank earns the trust of the people of Papua New Guinea and our partners. It is about doing the right things well using approaches such as our Governance framework to enable our people to always make sound and prudent decisions.
- Efficiency - we deliver the best possible results and value for Papua New Guinea with the resources that we have available. This is linked to and dependent on our ability to prioritise effectively. Through this value we place an emphasis on pragmatic functionality that delivers the quality of results we are seeking in a timely and affordable way. Our focus on efficiency is also linked to our drive for continuous improvement.
- Transparency - we believe in openness and being communicative about what we are doing and why. We welcome the scrutiny of others including the public, government and our partners. We recognise that this is critical for us to build trust and collaborate with others.
- Professionalism - in keeping with the importance of the Bank’s role, we set and maintain the highest level of professional standards and behaviours. We also support our people to gain qualifications, and to continue to develop and hone their expertise, in line with the modernisation of the Bank.
- Teamwork - our vision requires us to work effectively as a cohesive organisation, and for all parts of the Bank to contribute. Operating cohesively across the organisation is essential and is what we call ‘One BPNG’. It means that we must communicate effectively, share information and resources, coordinate, support each other and collaborate.
- Accountability - we believe that we must fulfil our mandate, do jobs, and do what we have committed to doing. We believe we must also be able to demonstrate these things. We must be accountable to the people of PNG, our partners and to each other. We manage accountabilities through delegations, clear responsibilities and by being transparent around our performance.