The deadline for the closure of Puma Energy PNG bank accounts with the BSP Financial Group Limited (BSP) has been extended to give enough time for Puma to transit to doing business with another commercial bank. At the request of the National Government, BSP has agreed to provide Puma a further 90-day extension from the 8th of March, 2024, for the closure of its accounts. This action was in response to a request dated 25th January, 2024, from Prime Minister (PM) James Marape. This extension has been granted on the basis that additional time is required for Puma to complete transferring its banking requirements to another commercial bank in the country. Another reason for BSP to grant this extension was the consideration of the disruptions in normal business operations for other banks, financial institutions, and the business community at large following the civil unrest that affected many parts of the nation between the 10th and 11th of January. As a licensed bank in Papua New Guinea, BSP has an obligation to strictly comply with all regulatory requirements. BSP has complied with its regulatory and contractual obligations in making the decision to cease banking relationship with Puma. Puma has been offered all assistance to ensure a smooth transition to a new bank as part of BSP’s commitment to minimizing the impact on the people of PNG. BSP has urged Puma to act responsibly during this extension period and finalize alternate banking arrangements.