Bankers Select New President

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By Staff Writer WINDHOEK At its Annual General Meeting held last Friday, the Bankers’ Association of Namibia (BAN) appointed Bill Turton, the Managing Director of Nedbank, as its new president. He replaces Mr Leonard Haynes, CEO of FNB Namibia, who steps down after having served as the association’s president for the past year. Reflecting back on the year, Haynes remarked: “The past year was both exciting and challenging for the banking industry. The activities of the Association were varied and covered topics ranging from the Money-Laundering legislation to the Financial Services Charter, where BAN and its members played an instrumental role. “Much attention was also paid to the National Payment System, with the Namclear Electronic Funds Transfer performing well, although volumes did not meet expectations. The introduction of Namibia’s Card Switching System (Namswitch) had to be postponed as all members were not in a position to progress as initially agreed.” Said Haynes further: “the motion on high bank charges that was investigated by the Parliamentary Committee on Economics, Natural Resources and Public Administration after being introduced by Hon. Kalla Gertze, gave BAN and the individual banks an opportunity to engage the political leadership of the country in a constructive manner. “After several consultative meetings, all parties had a better understanding of what is required, what is being done and what are the challenges to make banking more affordable and accessible to all Namibians. BAN and its members reiterated its commitment to offer Namibians world-class financial services at reasonable fees. They also recommitted to greater transparency and access to general information, enhanced by ongoing customer education.” In support of the above, a final highlight mentioned by Haynes was the first-ever Banking Week that took place in association with BoN. “Its aim to create an educational platform and to spread awareness around the banking industry and its role in the economy was well met,” Haynes stated. In his concluding remarks, Haynes thanked his fellow bank CEOs for their continued support and the Ministry of Finance, the Bank of Namibia and Namfisa for the cooperative spirit in which they engaged with BAN.