BPNG LAUNCHES NEW K100 BANKNOTE

BY RAYLEEN WANJIMAN

THE Governor of the Bank of Papua New Guinea, Elizabeth Genia, officially declared the new K100 banknote as legal tender during the official launch of the significant note at the Stanley Hotel in Port Moresby.

The new K100 banknote features the face of Sir Julius Chan in honor of him being the nation’s first Finance Minister, second Prime Minister, and the Father of the Kina & Toea.

It also symbolises an independent nation supported by strong institutions and a sovereign currency.

Governor Genia also highlighted the establishment of the Bank of Papua New Guinea under the Central Banking Act of 1973, crediting Sir Julius Chan for his visionary role in building the nation’s economic sovereignty ahead of independence.

Prime Minister James Marape, speaking at the launch, said Sir Julius Chan deserved to be honoured on the country’s highest denomination, describing him as an important figure whose face, memory, and character will be carried into Papua New Guinea’s future.

Last year, the Bank of Papua New Guinea (BPNG) received the final blessing from the family of the late Sir Julius Chan to feature his image on the country’s K100 banknote.

Lady Stella Chan signed off the official documentation as approval witnessed by sons, Toea and Byron Chan, marking a significant moment of national and personal pride.