In a significant move towards promoting student development, financial literacy, and inclusive economic growth, IBSUniversity signed a Memorandum of Understanding (MoU) with Mama Bank (Women’s Micro Bank). It is the first time Mama Bank enters into a partnership with a university to collaborate on internships, graduate development, financial literacy, and community empowerment.

The signing ceremony brought together senior members from both institutions. Representing IBSUniversity were Vice Chancellor Prof. Ramachandran Arunachalam, Pro Vice Chancellor (Academics) Mr. Jobin Scaria, and Dr. Durga Prasad, Head of the School of Business and Management. Mama Bank was represented by CEO Mr. Gunanidhi Das and Operations Manager Mr. Rex Noga.

Vice Chancellor Prof. Arunachalam emphasized the university’s vision behind this collaboration, stating:

“We are committed to bridging the gap between academic knowledge and industry practice. Most students understand theory, but lack exposure to the realities of the financial sector. Through this partnership, we aim to enhance financial literacy and create pathways for hands-on learning in micro banking and community-based finance.”

Established just 14 years ago, Mama Bank is PNG’s first and only women-owned microbank and one of only six women-focused deposit-taking institutions globally. With over 128,000 clients, its core mission centers around financial empowerment, especially for women and underserved communities.

Mr. Gunanidhi Das, CEO of Mama Bank, highlighted the importance of this partnership for both institutions and students:

“This is our first university MoU, and it is deeply meaningful. In a country where formal employment opportunities are limited, our goal is to help students become financially independent through entrepreneurship and literacy. When I connected with Dr. Prasad on LinkedIn, I saw a shared vision and now here we are, building something truly impactful.”

Mr. Das also spoke passionately about the deeper meaning of financial literacy:

“Savings is not just about putting money aside, it’s a mindset. It’s about how we use resources, how we reduce waste, and how we build habits that lead to financial resilience. We want to instill this mindset in students and equip them with real-world skills to succeed beyond graduation.”

“We see this collaboration as a way to produce graduates who are not only employable, but who can also create opportunities for themselves and others,” said Dr. Durga Prasad.

The MoU will remain in effect for three years, with both institutions collaborating to roll out a series of programs that align with their shared goals of empowerment, education, and economic transformation.

Together, IBSUniversity and Mama Bank are opening doors for a smarter and more self-reliant generation, prepared to contribute meaningfully to Papua New Guinea’s future.

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