According to a statement issued on Tuesday, the association has dealt with non-competitive issues which are of common interest and significance to the banking industry in Namibia over the past 20 years.
BAN Chairperson, Baronice Hans, was quoted in the statement as saying that what BAN has achieved as an industry is a milestone.
“The association has achieved this objective successfully, despite the challenges facing the banking sector,” she said.
In the statement, Hans added that together with the Bank of Namibia, BAN continues to ensure that its financial system remains strong and adoptable to the changes in the banking environment.
“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.
According to the statement the BAN acts as a medium for communication with Government, the Bank of Namibia and other public bodies and authorities on matters affecting the different activities of banking institutions.
The statement added that 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 comprises of Bank Windhoek, Standard Bank, First National Bank, Nedbank, Bank Bic and Letshego Bank,” stated the statement.