To be a center of first choice for professional studies in banking renowned centre for expertise for training in banking promote standards of professional competency
To promote standard of professional competency and level of skills in banking and the financial services sector in the country.
OBJECTIVES OF THE INSTITUTE
- To enhance the professional competence of bankers and personnel in financial services industry in the country;
- To provide professional training courses tailor made to suit the local environment,
- To support its members in achieving their professional goals;
- To serve as a professional body for members in the banking industry to be connected, informed, qualified and educated.
The Institute has an elaborate organization structure with a board of directors headed by the Chairman/President and the management team is headed by an Executive Director. The Institute’s Board comprises of chief executives and senior executives from the banks and a representative of the Reserve Bank of Malawi.
The Bankers Association of Malawi is a grouping of commercial banks, discount houses and other financial institutions licensed under the Banking Act 1989 established in 1995. The Association currently consists of twelve members that are all engaged in the provision of banking facilities and other financial services in the country. The current members include; FMB, INDEbank, NBS Bank, National Bank of Malawi, Standard Bank, Ecobank, Opportunity Bank Malawi, Nedbank, Malawi Savings Bank, International Commercial Bank, CDH Investment Bank and FDH Bank.
The Association was originally established to fulfill a number of objectives including the following among others;
- providing a forum for consideration of matters of policy and mutual interest concerning the activities of its members,
- acting as a medium for communication with the Malawi Government, the Reserve Bank of Malawi, the committee of the Malawi Stock Exchange, other public bodies, authorities and officials, the press, the general public and other private associations and institutions,
- conveying the views of members on matters affecting their activities, and
- dealing with, advance and promote matters of interest to members and to foster co-operation between them.
The Bankers Association of Malawi undertakes projects aimed at improving the business operating environment for its members. In the last ten years of its existence, the Bankers Association of Malawi has played a crucial role in the activities of the National Payments Council (NPC) which have culminated into the implementation of vast payment system reforms in the country since the beginning of this decade.
To its credit, the Association has implemented and owns a state - of - the - art Electronic Cheque Clearing House which started its operations on 1st August 2005 and it is also currently involved in a number of projects. All these activities are solely financed through contributions from its member institutions.
The Bankers Association of Malawi had been receiving numerous enquiries about setting up of the Institute of Bankers in the country. As a result of this, in 2002, the Association established an Institute of Bankers (IOB) in Malawi to enhance the level of professional competence and skills within the banking industry. The Institute currently enjoys popular support from the entire banking industry including the Reserve Bank of Malawi. During the consultations process, all key stakeholders expressed keen interest in the establishment of the institute.
So far the institute has forged links with other similar institutions within the region and in Europe such as the Chartered Institute of Bankers in South Africa and Chartered Institute of Bankers in the United Kingdom. The Institute of Bankers in Malawi will also be working very closely with other banking schools within the region under the SADC Framework Qualification.
From time to time the Bankers Association of Malawi undertakes specific projects aimed at assisting its members to improve the delivery of services to their clients. To promote the banking profession and improve the level of competency, the Association has embarked on a project to establish an Institute of Bankers in Malawi.
Bankers Association of Malawi
Ulimi House, Ground Floor
Corner Glyn Jones & Sharpe Roads
P O Box 1359
1st Vice President
2nd Vice President