Assignment Task
Nationwide Micro bank (MiBank) is one of the largest Microbank or microfinance institution in Papua New Guinea. MiBank is at the forefront of innovation, it is the first licensed financial institution in the South Pacific to implement a mobile wallet called MiCash and the first institution to launch a, micro insurance product called MiLife. MiBank prides itself on its diversification and women’s banking is a key focus area. The Bank generally empowers and promotes women and grassroots through financial literacy training and access to its products and services. MiBank has now 16 branches with more than 150 agents operating in the rural parts of PNG.
Since its establishment in Wau, Morobe Province 2004, it was known back then as Wau MicroBank. The bank was established in partnership with Asian Development Bank and Government of PNG to provide financial assistance to micro and small enterprise, subsistence farmers and poor households who were without financial services. The bank was managed by PNG institute of Banking and Business Management who held the certificate of exemption. In February 2007, Nationwide Micro Bank (WMB) was registered as a limited liability company under the Company Law, and all assets and liabilities of Wau Microbank were transferred to WMB Limited. In June 2008, BPNG withdrew the exemption certificate and issued a banking license to Nationwide Microbank Limited, adopting a new name to better reflect its proposed geographic scope of business. In 2013, the business name of MiBank was registered.
Need Help Writing an Essay?
Tell us about your assignment and we will find the best writer for your paper.
Get Help Now!Welcome to Our Online Academic Writing Service. Our online assignment writing website provide various guarantees that will never be broken. No matter whether you need a narrative essay, 5-paragraph essay, persuasive essay, descriptive essay, or expository essay, we will provide you with quality papers at student friendly price.
Ask for Instant Writing Help. No Plagiarism Guarantee!
