The Vitis Group of Companies very recently launched a new foreign currency exchange service in the city of Port Moresby, aimed at enabling ease for businesses or individuals wanting to change currencies.
Vitis Group of Companies General Manager Dr. Sergey Mosin, said the foreign currency exchange is a new product offered by its subsidiary, Malina Finance Limited, at the Mosin Plaza at Gerehu.
He adds that to be part of market economy, businesses and population should have fast access to foreign currency for travel, trade, for business, or for tourism.
This is what led to the company offering this product to its customers. “Exchange rates will be better if there is no monopoly by the banks.
Countries with financial freedom are rich and countries with many restrictions and bad banking are not that well off, PNG is one of them,” he said.
The foreign currencies offered at Malina Finance are the US dollars, Chinese Yuan, Australian Dollars, New Zealand Dollars, Philippine Peso, the Euro, and the British Pound.
Meanwhile, Vitis Group of Companies includes various businesses running under it like Malina Finance, Zoya Travel & Tours, and Fortuna Pharmacy to name a few.