This year marks the 20th anniversary of the Bankers Association of Namibia (BAN). The association was established in 1997 in accordance with the Banking Institutions Act as the representative trade association for the commercial banking sector in the country.
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 said.
BAN also acts as a medium for communication with Government, the Bank of Namibia and other public bodies and authorities by engaging with them on matters affecting the different activities of banking institutions.
Hans says 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 said.
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.