Bankers’ Association celebrates 20 years of banking excellence
The Bankers Association of Namibia (BAN) which acts as a medium for communication on matters affecting different activities of banking institutions, this year celebrates 20 years of existence.
The present BAN membership comprise of Bank Windhoek, Standard Bank, First National Bank, Nedbank, Bank Bic and Letshego Bank.
Over the past 20 years, the association has dealt with non-competitive issues which are of common interest and of significance to the banking industry in Namibia.
“This is a significant milestone that we have achieved as an industry. We are proud of the world class banking system that we have in Namibia. Together, with the Bank of Namibia we continue to ensure that our financial system remains strong and adaptable to the changes in our environment. The collective background and experience of all our BAN members is invaluable and positions the industry well in terms the legacy we want to leave,” said Baronice Hans, Managing Director of Bank Windhoek and current Chairperson of BAN.
Hans said the association has achieved this objective successfully, despite the challenges facing the banking sector.
“The banking industry is faced with a myriad of challenges, however collectively working towards a common goal will ensure our key stakeholders such as the Bank of Namibia and Government, that we will build a sound banking industry which is the backbone of our economy,” Hans added.
Major achievements of BAN include the launch of the Code of Banking Practice and Guidelines for Lodging Customer Complaints on all banks’ websites, setting up its own website and the implementation of the Wibar Code (Windhoek Interbank Average Rate) in May 2011. The Wibar Code was updated in July 2017.
The BAN structure mainly consists of the following sub-committees: Credit, Treasury, Human Resources, Accounting & Tax, Compliance, Legal, IT, Operational, and Public Relations.