09/08/2018
Repost...
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Responses from senior officials of the BANK of PAPUA NEW GUINEA
"I consulted the Bank of Papua New Guinea to verify the legality of MLMs in the country, especially the AIM Global Inc. I was directed to the Financial Systems Support Group. There are 3 divisions within that Department. The Regulatory Department is one of the three, which deals with the regulation of the systems composing of the commercial banks, ADI's (financial companies), Savings & Loan societies, superannuations,and life insurance companies. Businesses such as MLMs like Pro-Ma Systems.
I was assisted by Mr Peter S Mamp, a senior official with the Regulatory Department. Below is Mr Mamp's response to my question on what makes a networking company a geniune, legal MLM.
'The Bank is limited by its current legislations to cover such organisation due to its nature of business. However, we can intervene if it is affecting the stability of the financial system. The PRODUCT BASED SORT OF COMPANIES ARE SAFE because you actually see and pay for the product and in turn it builds or accumulates your points up the pyramid. The Bank (BPNG), has no issues with product based MLMs, I mean tangible, like Pro Ma. But if they are promised service oriented businesses like Hope Rocket, that's quite dangerous because they promise you a service in the future. How do you know that this service will be available? As such it is a concern. But the Product base is alright.
AIM Global has similar business Model like Pro Ma so that is fine.'
The above response by an expert from the Bank of PNG should now give a clear picture on which is a scam or not.
A legitimate MLM company is a system of moving products from the manufacturer directly to the consumer through an organization of users, retailers and network builders.
Pyramid schemes merely focus with a promise to pay members in the future and their sole drive is money only!
As an evidence, the AIM Global branch in PNG is located in Port Moresby. So go there and ask them to further explain how it operates and then compare it against the definition given above.
Finally, if you are still not satisfied, then it is up to you to decide but don't shove things down to people's throat. One man's poison is another's food, so to speak."
Now if you want to know more about Aim Global after reading the information..
Comment "HOW" and i will get back to you as soon as possible!! ^_^
