TAMBUAQUERIES REASONS BEHIND SNUBBING OF LOCALS BY BANKING CORPORATIONS

By Vonu LIBITINO

Goroka MP Aiye Tambua has raised concerns on the operations of BSP Bank in Papua New Guinea.

During Parliament Sitting on Friday March 14th,2025 MP Tambua alleged that the bank was hiring expatriates for positions that could be filled by Papua New Guinean nationals.

He argued that this practice suppresses and marginalizes PNG nationals and questioned what government policies are in place to protect the rights of Papua New Guineans in large banking corporations.

In response, the Minister for State-Owned Enterprises and Hagen MP, William Duma, acknowledged the significance of the issue, noting that it has been informally raised by many citizens.

Mr. Duma clarified that BSP is not entirely PNG-owned but is an international bank with both domestic and international shareholders.

He explained that, under PNG’s banking laws, the government cannot own more than 20% of shares in BSP, a restriction consistent with similar laws in other countries.

Addressing the concern about PNG nationals being overlooked for senior positions, Mr. Duma stated that BSP, as an international bank, is committed to recruiting the most qualified individuals for key roles.

He emphasized that PNG nationals must meet internationally recognized standards to qualify for these positions.