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A Papua New Guinea politician has applauded Kina Bank’s recent launch of its fee free account.
Vocal Member for North Fly in the Western Province James Donald says the fee-free transaction account allows customers to save more and he described it as the best news for the country.
Kina Bank CEO Greg Pawson has announced the new Kina everyday account has no EFTPOS, and monthly account maintenance fees.
Pawson had said it was how the Kina Bank wanted to take banking back to basics with better customers service and removing unnecessary fees.
The North Fly MP said this initiative by Kina was a step in a right direction for the entire banking system in the country, and urged other banks to emulate.
He said it was about time the country’s banking sector realises the hardship, and the struggles that an ordinary Papua New Guinean families, and individuals face, and gives back to them, by allowing them this choice of financial freedom to take more control on their finances, and to save some portion of little they earn, and most importantly to ease them of financial burdens they face every day.
“In this context, this is the best business news I would say,” Donald said.
He has indicated that an invitation would be given to Kina Bank to establish a branch in his district in Western Province.