Standard Bank’s Chief Executive, Vetumbuavi Mungunda, has assumed the presidency of the Bankers Association of Namibia (BAN).
Mungunda is succeeding Bank Windhoek’s Managing Director, Baronice Hans, and will serve for a year in the position, having assumed the position on 01 April 2018. This position rotates annually amongst the Heads of the current commercial banks. As part of this annual rotation, Sarel van Zyl of FNB assumes the position of Vice-President taking over from Esther Kali from Letshego.
Standard Bank will chair the various sub committees forming part of the BAN structure which includes Credit, Treasury, Human Resource, Accounting & Tax, Compliance, Legal, IT, Operational and Public Relations.
The Bankers Association of Namibia was established in 1997, in accordance with the Banking Institutions Act, as the representative trade association for the commercial banking sector in the country. BAN acts as a medium for communication with government, the Bank of Namibia as regulator, and other public bodies and authorities, by engaging with them on matters affecting the different activities of banks.
In addition, through the BAN, members deal with non-competitive issues that are of common interest. One of the successful initiatives launched was the Code of Banking Practice and Guidelines for Lodging Customer Complaints on all banks websites.