- Written by Times Reporter - The Daily Times
- Created on 18 November 2016
Members of the Institute of Bankers in Malawi (IOB) are having their maiden annual conference today and tomorrow at Nkopola Lodge in Mangochi to discuss issues affecting the banking sector and economy.
The Institute’s Executive Director, Lyness Nkhungula, said the meeting will attempt to find solutions to the challenges the banking sector is facing.
Nkungula was speaking in Blantyre when Ecobank, FMB and NCR donated cash amounting to K3 million to support preparations for the event.
“With these finances from NCR, FMB and Ecobank, we are hopeful that we will find solutions to the challenges banks are facing," she said.
Nkungula added that since banks hold the economy, the theme for the meeting will revolve around, “Banking Industry in Turbulent Times, What Does It Take To Survive."
“This will be a time to also reflect on the theme and suggest some solutions to policymakers so that the sector grows to the advantage of the country’s economy and customers,“ Nkungula said.
FMB Marketing Manager, Widdey Nsona, said being part of the banking sector, FMB felt duty bound to support the event-
“We appreciate what the Institute is doing in as far as training of workforce for the banking sector is concerned. A vibrant workforce will always contribute significantly to the industry and economy as well,“ Nsona said.
In his remarks, Managing Director of NOR, Faizal Okhai, said that having existed for 60 years in Malawi, the company sees it vital to donate K1 million towards the conference.
“We provide various software to the banking industry. Secondly, we were the first company to supply ATMs to banks in Malawi in 1992 and, therefore, this meeting is worthwhile even to NCR,” Okhai explained.
Ecobank Media Brands and Communications Officer, Lumbani Misoya, said through the donation, the bank believes that discussions during the event will centre on mapping the way forward so as to reach the unbanked population. Business statistics show that only 19 percent of the country's population is banked.
“We as Ecobank want to ensure that discussions should also focus on ways that will empower more Malawians to have bank accounts as opposed to the current situation," Misoya said.
The Bankers Association of Malawi and the Reserve Bank of Malawi established the Institute with a mandate of providing professional studies in banking and meeting the skills demands of its membership and stakeholders.