The Governor of New Ireland Province, Sir Julius Chan, is calling on the Bank of Papua New Guinea to work with the commercial banks to ease the stringent cumbersome measures that banking services place on the ordinary people.
“The commercial banks have become the accountants, auditors, investigators and policemen when delivering banking services to the people. Even provincial governments, administrators and treasurers suffer at the mercy of junior branch managers,’’ the former finance minister and prime minister said.
“It is becoming increasingly impossible to access easy and simplified banking services provided by the various commercial banks.
“The commercial banks have secured themselves to the limit by making it hard for governments, businesses and the ordinary people to open bank accounts, deposit money or cheques into their accounts and even withdraw funds from their own accounts,” Sir Julius says.
He says that the actions of the various commercial banks in imposing stringent measures on the banking services are having a serious and significant impact on the lives of the ordinary people.
The people are unable to access money to buy food, and for the small businessmen and woman, their businesses are floundering, thus going against the National Government’s policy to empower our people to engage in economic and business activities, the man labelled as the Father of the Kina and Toea said.
Sir Julius says while appreciating the position of the commercial banks to protect the funds under their custody from corrupt and unscrupulous dealings by dubious persons and organisations, suggested that while adopting measures must continue to improve the banking services they provide, must always ensure that such measures do not greatly affect the lives and businesses of our people.
“Many of my people are from islands off the mainland who were turned away to wait for up to seven days. Even public servants on government payrolls, carrying pay cheques from our mother Bank of PNG had to wait. Surely BNPG cheques are honourable when they carried authorized signatures.
“Who’s controlling who? It makes no sense to me when commercial banks knock back our Central Bank (BPNG) cheques – demanding seven days clearance. This is disgracefully absurd,” Sir Julius says.
“The Governor of the BNPG should remind all licensed commercial banks to revert to their traditional role of banking and leave the non-banking roles to the organisations established to be responsible for those roles to exercise. ‘’
Sir J called on the Governor of the Bank of Papua New Guinea to intervene and direct commercial banks to adopt banking services that are user friendly and easily accessible by all the people.