NCSL

NCSL’s investment pays off

CAL is a joint venture company which was incorporated in February 2016 and specialises in software development.

The company was established with a share capital of K1,000. NCSL has a 51 percent shareholding while Software Factory Limited holds the other 49 percent.

After three years of successful operation and on conclusion of the audit of its 2018 financial statements, the Board of CAL declared total dividends of K200,000 with NCSL receiving K102,000 and Software Factory Limited receiving the balance. CAL now has net assets totaling K812,000.

NCSL members urged to register for debit card

This in preparation for the launch of its debit card offering and Point of Sale terminals by the end of the first quarter 2019.

NCSL General Manager, Vari Lahui, said a debit card will be issued to each member when he/she applies for a NCSL Transaction Account.

The application form for the transaction account is available on the NCSL website for members.

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Students informed of savings benefit

Students from Kopkop Colleague received financial awareness from the NASFUND Savings & Loans (NCSL) on the importance of savings.

NCSL’s Marketing Officer, Jasper Kinaram, spoke to students of the ages 7 up to 12. He said Financial literacy is important for everyone and must be taught at an early age.

Kinaram spoke about the NCSL’s Kids Savings Account (KSA) which he said is a trustee account for children who are under the age of 18 years.

NCSL aims to encourage saving culture

NASFUND Contributors Savings & Loan Society Limited (NCSL) in this aspect continues to carry out financial awareness to not only urban townships but rural areas as well.

NCSL Bialla Branch officer, Willie Sesega recently conducted a week long awareness program to the people of Central and East Nakanai in Bialla, West New Britain province.

The training was on the importance and benefits of saving money.

NCSL opens new branch

This follows the official opening of its new stand-alone branch in Port Moresby to serve members.

In a statement, NCSL says the development is part of a strategic plan to develop their own branch network and implement initiatives to strengthen its position as the fastest growing savings & loan society in the country with a healthy record of returns for members.

NCSL enhances fraud security

NCSL General Manager, Vari Lahui, spoke to Loop PNG about the measures during the company’s 2017 Annual General Meeting.

Lahui said NCSL had lost K100,000 in 2014 due to fraud and part of the reason was an identification oversight on the part of a commercial bank that the fraudster used to access the money.