Kina Bank CEO, Greg Pawson, and NCSL CEO, Vari Lahui, sign MOU at official event at Kina Bank Haus.
The bank, which is a major home lender, has signed a Memorandum of Understanding (MOU) with NCSL to provide finance for that company’s staff who want to own their own home.
“This sort of partnership is innovative and part of Kina Bank’s mission to help build the economy of Papua New Guinea,” Kina Bank CEO, Greg Pawson, said today.
“Home ownership is important to many people; however they don’t always have the opportunity to realise their dream. This move, which Kina Bank is examining extending, can be a major plank in making a dream a reality.”
Mr Pawson said despite the economic challenges associated with COVID-19 he believed there was demand for home loan finance, particularly in Port Moresby. He said the Government had introduced low cost lending schemes to help.
“However, the banks can also step up to the mark with innovative ideas while still maintaining appropriate lending practices. We are doing that,” he said.
Kina Bank will allocate a full-time account manager to the project in order to assist processing times and provide an easy process for NCSL staff.