By Feston Malekezo - The Daily Times
Bankers under their umbrella body, the Institute of Bankers in Malawi plan to hold their maiden annual conference this November to discuss challenges affecting the Malawi economy.
IOB Chief Executive Officer, Lyness Nkungula, has confirmed the meeting will be held at Nkopola Lodge in Mangochi from November 17 to 20. Among others, Nkungula said the conference will seek to discuss solutions to high interest rates and runaway inflation.
“People no longer visit banks to access loans because of the high interest rates. Our meeting will seek to find answers to the problems and how the country can come out of the challenges it currently faces,” she said.
The meeting is also expected to discuss challenges affecting the banking sector following the challenging operating environment which has seen some banks struggling to post good results.
“Although people claim that banks make a lot of profits, the truth is that we are also struggling. Globally, many economies are in trouble, making it a necessity for us to find solution to the problems affecting us to ensure that the banking sector in Malawi remains sustainable,” Nkungula said.
The conference will the held under the theme, “Banking industry in turbulent times: What does it take to survive?”
Established in 2008, the Institute has a membership base of over 2,000, including students and alumni working with different financial institutions in the country.