rural population ; bis central bankers ’ speeches • cefi is expected to achieve three major outputs. these include strengthening of financial institutions that implement financial inclusion programmes, training on financial literacy and business development services to build the capacities of clients and micro businesses, and by establishing industry standards by working with network. broadly speaking, cefi will operate through four major verticals – : financial inclusion, financial service delivery, information exchange and gender. • under financial inclusion initiatives, cefi will aim to promote financial inclusion agenda and innovation, co - ordinate and support financial inclusion activities, introduce best practices in the financial sector, promote product and channel innovations such as mobile and agent - based banking, create a talent pipeline for financial inclusion activities and facilitate financial literacy. • cefi will contribute to financial service delivery by working with bpng to develop industry benchmarks, arranging for technical assistance to fis, acting as a centre of excellence and nurturing a network of practitioners and service providers. • cefi ’ s interventions in the direction of information exchange will largely be focussed on building and maintaining a database of technical assistance for regulated and un - regulated microfinance institutions and act as a repository of knowledge and training material. • cefi will also lay special focus on promoting gender equality in the areas of financial services delivery. government support prime minister, the national government support in the establishment and out - scaling of micro - financing, and thereby financial inclusion nationwide into different parts of png, is pleasing. it is also pleasing to see the national government subsidising education so that formal education can reach the rural masses. however, what has been lacking is the development of financial education materials, particularly development of curriculum ( s ) so that “ financial education ” can be mainstreamed to all levels and forms of education and educational institutions in png. i urge the department of education to come forward and work with the bank of png, to actively develop and disseminate important financial education materials to all schools and further financial inclusion. bpng initiatives with students accounts in the meantime, the bank of png has taken some initiatives in working with financial institutions to developing banking products such as student accounts to make available to school - age children. the idea is to enhance savings culture, promote thrift and responsible spending, for children and family settings. thank all for a milestone occasion there is no better time than this present time to see financial inclusion taken to the next level. i want to welcome everyone and thank you all for coming

to witness this important milestone occasion. prime minister, i want to thank you very much for taking time out from your very busy schedule to officiate in this important occasion – the launching of the centre for excellence bis central bankers ’ speeches in financial inclusion – “ cefi ”. a dream and hope for all papua new guineans to be financially included. wishing everyone and cefi good success. may god bless you all. bis central bankers ’ speeches