Central bank to investigate BSP

BPNG has been working with BSP continuously, to help them deal with the issues that unfolded as the upgrading process progressed. For example, at the initial stage BPNG staff were deployed to the provinces to monitor and report on the local situations as the upgrade commenced.

BPNG conducted regular meetings with BSP senior management throughout the upgrading process and intervened to raise concerns and offer potential solutions. BPNG’s interventions dealt with constructive recommendations for BSP to resolve issues, such as:
– Inform the public on the actions undertaken;
– Attend to individual clients;
– Meet with firms with payment issues;
– Develop a customer expectation strategy and program; and
– Focus on firms with international transactions to encourage goods and services suppliers to maintain services.

To assist with processing, BPNG extended trading of the Kina Automated Transfer Systems (KATS) beyond normal trading hours