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This week, the PFSR Governing Board and the Commissioner and associates bids farewell to Chairman Okada Techitong.  Chairman Techitong completed his term with the PFSR Governing Board after being appointed twice and serving for a period of six years.  Mr. Techitong served as an appointee of former President Johnson Toribiong and then as an appointee of President Tommy Remengesau, Jr.

Prior to joining the PFSR Governing Board, Chairman Techitong had served a long tenure as a Delegate for the State of Ngatpang, having been elected for two terms and serving a distinguished career in the 6th and 7th Olbiil Era Kelulau.  Prior to his service in our national congress, Techitong also served on several Chairmanship positions such the Commerce and Trade Committee of the Asia-Pacific Parliamentary Union and the Micronesian Shipping Commission.  He has also served on various Boards, Commissions, and Task Forces during his long career; such as the Palau National Communications Corporation, the Capitol Relocation Commission, and the Joint Aviation Task Force. His long and distinctive career also brought not only his experience and knowledge as a Delegate for Ngatpang State, but also as a former Minister of Commerce and Trade, twice appointed by two different Administrations. Mr. Techitong served under Presidents Etpison  and  Nakamura and has had a very notable career in the Trust Territory Government prior to coming to Palau in the early Trust Territory days to help manage and operate the Western Caroline Trading Company.

During Chairman Techitong’s tenure on the PFSR Governing Board, he had been very instrumental in that he provided leadership to the PFSR and its staff in dealing with issues such as the PSB Receivership and the winding down of such, the closure of the First Commercial Bank, and other matters relating to improvements in Palau’s financial sector and in the country’s anti-money laundering regime.  The most recent efforts were on credit union reform, which resulted in a new and much needed and improved credit union law which was submitted recently to the OEK for consideration. The PFSR  Governing Board, the Executive Commissioner, and staff  have expressed their appreciation of Techitong’s leadership and wisdom and express hope that he would consider continuing to provide his wealth of knowledge in other public service forums and agencies.  With the departure of Techitong, the Governing Board has since appointed Mr. Tutii Chilton to be the new Chairman of the PFSR, with Ms. Uroi Salii as the Vice Chair. 

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