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The Assistant Governor of Corporate Affairs, Mr Ron Sikar, gave the opening speech and formally declared the exhibition open on behalf of the Governor of BPNG, Elizabeth Genia, in her absence. “It is an honour to stand earlier than you at present as we open the Kina and Toea Exhibition, a showcase of our nation’s wealthy and evolving economic historical past as part of the Bank’s fiftieth anniversary celebrations,” Governor Genia mentioned. She highlighted that the occasion is especially vital because it precedes the fiftieth anniversary of each the nation’s foreign money and the nation itself.

Governor Genia additionally launched the Bank’s Vision 2050, launched in line with the anniversary celebrations. Shells, notably the Kina and Toea, weren’t only mediums of commerce but in addition symbols of wealth, social status, and cultural practices. “Deeply embedded in our traditions and cultural practices, shell money additionally represented social standing, and it was used in marriages, deaths, and different important ceremonies and events,” Genia defined. The arrival of colonisers marked a turning point in the nation’s financial history, leading to the introduction of contemporary currencies on 19 April 1975.

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“These modern currencies served as both economic instruments and national emblems of our independence and unity as a nation,” Genia famous. She offered insights into the cultural significance of the Kina and Toea, explaining that the word “Kina” is found in each the Pidgin and Kuanua languages and describes the priceless pearl shell extensively traded in PNG’s Highlands and Coastal areas. Similarly, “Toea” refers to a priceless type of shell utilized in trade and conventional bride worth ceremonies within the Motuan Coastal villages. Governor Genia expressed the Bank’s ongoing commitment to sustaining belief and confidence in physical currency, even as global developments shift in the course of digital currencies and electronic funds. “This exhibition supplies a unique alternative to reflect and appreciate how far we now have come and to consider how we will proceed to honour our heritage whereas embracing the longer term,” she mentioned. The exhibition was designed to take attendees on a journey via PNG’s history, showcasing pictures of uncommon artefacts, coins, and notes which have shaped the country’s economic system.

“They provide pathways for wealth creation and empower our communities.” He referred to as for government support to enable local initiatives, noting that even small actions can lead to significant change. The Minister additionally proposed a new co-location strategy for key businesses involved in tourism and cultural promotion, aiming to streamline operations and enhance service supply. He underscored the need for regulatory frameworks to protect PNG’s cultural heritage, advocating for the patenting of native designs and merchandise to make sure they are authentically represented.

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