Chief Executive Officer for the Institution, Lyness Nkungulu, said this in Blantyre when her organization received K3 million from FDH Bank to support logistical arrangements for its forthcoming annual conference. She said banks should reciprocate what the Central Bank is advocating so that the gap of the unbanked should be narrowed.
“Our deepest gratitude goes to FDH bank, it’s not easy to part with such an amount in these hard times, it demonstrates the commitment of the bank to strengthen our institution as it plays a critical role in regulating the banking sector. Let me also take this opportunity, to urge commercial banks in the country to pursue financial literacy and inclusion programs as advocated by the Central Bank.
Nkungula observed that there’s need for collective efforts by players in the banking sector to strategize how they can ensure that financial inclusion is a success in the country.
“At the upcoming conference we will come up with resolutions and we will give ourselves a timeline for monitoring the impact of the conference. It is not just business as usual we want to come up with action points. As I have already said participants to the conference will not only be banks but other key stakeholders in the banking sector too. The emphasis is that when we return to our respective institutions we should strive to achieve the targets set at the conference.”
FDH officials interacts with President of Institute of Bankers in Malawi
Also speaking during the function was Head of Marketing and Communications for FDH Bank, Levi Nkunika. He said Institute of Bankers in Malawi is an important organization within the banking sector whose role is to ensure that standards are maintained in the sector as such the bank found it imperative to donate K3 million for the cause.
“This is a very strategic institution as far as banking is concerned in Malawi. It raises the bar of professionalism in the sector and it organises high level conferences where expert knowledge is shared. This year we have established that the institute has organized another conference where financial inclusion is set to be deliberated upon. To us as FDH, financial inclusion is a critical subject because it’s tackling or involving a huge population which is unbanked. Therefore any strategy that is addressing such gaps is a welcome development,” said Nkunika.
FDH said as a way of contributing to financial inclusion programme it introduced two innovative products, Banki Pakhomo which is said to be reaching every corner of the country to ensure that people are banked and further said its Ufulu digital account enables one to open an account via mobile phone.