BPNG, BSP sign MoA to deliver banking education Date: Tuesday 23rd September, 2014 Bank of Papua New Guineas Microfinance Expansion Project (MEP) is set to take to take a leap forward and deliver financial education, awareness and training to more Papua New Guineans, with Bank of South Pacific (BSP) coming on board as a delivery partner. Signing of MOA BPNG_BSP 1 BSP today signed a Memorandum of Agreement (MoA) with the Bank of Papua New Guinea (BPNG) to implement the Microfinance Expansion Project (MEP) in the areas it operates, commencing in the National Capital District and then rolling out to the areas outside Port Moresby where its sub-branches, agents and registered SMEs are located. The agreement was signed by BPNG Deputy Governor, Benny Popoitai, MBE, and BSP General Manager Retail Banking, Paul Thornton. BSPs Manager Banking Education, Cynthia Asi, explained that BSP in consultation with MEP will customize and deliver training on modules in savings, budgeting and mobile money, where BSP will train up to 60,000 participants, 40% of which will be women. The project will end in August 2015. BPNG MEP tea will train BSP trainers will then replicate training to BSP staff nationwide who will then deliver training in their areas. The objectives of the MEP are to conduct financial education training, for the mutual benefit of Papua New Guineans who receive this training, she explained. The knowledge of financial education is important to all, whether a business man or a family, financial management enables recipients to organise and spend money wisely in different areas, she said, adding a well informed and financially educated individual can make better economic and financial decisions on the job, at home and in their community. The topics on savings will cover: Set savings goals, Methods on how to increase your savings, coping with emergencies, Selecting the right savings options, Develop and utilise a savings plan. Budgeting will cover: Setting financial goals and creating budgets, plus others. The first module will cover mobile money, which will see how recipients can use mobile banking to their advantage. bsp.pg/Media-Centre/News--Announcements/2014/BPNG,-BSP-sign-MoA-to-deliver-banking-education.aspx
Posted on: Tue, 23 Sep 2014 10:41:42 +0000
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