Officials have firmed up the timeline for when foreign insurers will be allowed to enter the Myanmar market, a move that is expected to boost competition and lift penetration rates.
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Interviews & Viewpoints | Viable solutions: Loi Bakani, Governor, Bank of Papua New Guinea (BPNG), on the national budget, financial technology and APEC 2018 from The Report: Papua New Guinea 2018
Articles & Analysis | Growth unchained: New technologies coupled with infrastructure upgrades are expanding access to financial services from The Report: Papua New Guinea 2018
Financial inclusion remains persistently low in Papua New Guinea, with an estimated 63% of the population remaining unbanked. This has prompted the Bank of PNG – the country’s central bank – and several private institutions to explore financial technology (fintech) as a means to improve access to financial services. Beginning in mid-2017 the...
Articles & Analysis | Fintech revolution: Tech solutions are driving the evolution of the sector landscape from The Report: Papua New Guinea 2018
Once reserved for ambitious start-ups and industry-leading tech operators, financial technology (fintech) has more recently caught the attention of major private sector firms and government planners alike, becoming a regular feature in budget speeches and strategic development plans. As fintech progressively plays a larger part in the lives of...
Articles & Analysis | Strong fundamentals and growing demand support expansion of PNG insurance industry from The Report: Papua New Guinea 2018
The insurance industry of Papua New Guinea holds considerable potential for long-term growth, although insurers and brokers face notable challenges, including a lack of enforcement and compliance regarding financial reporting requirements, limited domestic reinsurance capacity, and the frequent offshoring of major accounts and business.