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Harare Bureau
THE Bankers Association of Zimbabwe has recruited two key officers as part of staff appointments meant to deepen its understanding of financial markets and enhance promotion of members’ interest.The bankers lobby group has appointed Mr Sanders Abel as its senior economist and Mr Clive Mphambela as the association’s advocacy officer.
BAZ executive director Mr Sij Biyam told our Harare Bureau in an interview that the senior economist would collect and collate information data on various banking and economy related issues.
Mr Biyam added the economist would also carry out research, collect data from the public, regulatory bodies, the private sector, organised business and informal sector and develop position papers.
BAZ has also appointed an advocacy and marketing executive to interact with private and public sector in putting across its image and thrust.
“The advocacy officer would mainly be involved in putting across in both the private and public sector our thrust as an industry, the workings of the banking industry, the products banks offer, sectoral support and ensure that our (BAZ) image in the public eye is improved,” the BAZ boss said.
Mr Biyam added that the advocacy officer would also focus on financial literacy and ensuring that the unbanked are well informed on matters related to banking and are also brought into the ambit of banking. He will conduct seminars and workshops and attend suitable business gatherings in order to articulate banking related issues and respond in line with the focus of the sector.
The Bankers Association of Zimbabwe was established in 1992 to provide a forum for the consideration of matters of policy and mutual interest concerning member banks.
It comprises of banks registered and authorised to conduct banking services in Zimbabwe, provides information, research and operational support services primarily to the banking Industry.
BAZ still has its fingers crossed that Reserve Bank of Zimbabwe Governor Dr Gideon Gono will soon review his position on new minimum capital requirements for banks.
The bankers’ lobby group is rooting for what it has termed “the best approach” to the issue after discussions with and submissions made to the apex bank.
Mr Biyam said while banks were alive to the need for well capitalised entities they were hoping for “the best approach” to the issue in view of the liquidity crisis pervading the economy and hope Dr Gono will review the thresholds when he presents his midterm policy before or after the elections.
Commercial and merchant banks would be required to have minimum capital of $100 million by 2014 from $12,5 million and $10 million respectively.
Minimum capital thresholds for building societies were raised from $10 million to $80 million, finance and discount houses from $7,5 million to $60 million and $1 million to $5 million for micro-finance institutions.
Online Reporter