The Banking Association South
Africa appoints a new chairperson
under which they operate locally and internationally. To this
extent, The Banking Association interacts with the South
African government through the National Treasury, and
is a member of various organisations including Business
Unity South Africa (BUSA) and the International Banking
Federation (IBFed). It also engages with various regulators,
including the South African Reserve Bank and The National
Credit Regulator, on regulatory matters affecting the banks.
The world has experienced a significant increase in
regulations that affect banks as governments and banking
regulators seek to protect financial markets, taxpayers, and
customers and shareholders of banks against the shocks
that were experienced during the most recent global
financial crisis. The Banking Association’s engagement with
regulations must continue to ensure that these are relevant
and effective for local conditions.
Chairman: Sizwe Nxasana
What is your vision of accomplishment for the next
two years and how is this to be realised?
The Banking Association South Africa’s role is to
represent its member banks’ interests, and to facilitate an
environment that is conducive for the banks to conduct
sustainable business, contribute to economic growth and
make profits. In South Africa, the government has adopted
the National Development Plan (NDP) as its plan for the
country to eliminate poverty and reduce inequality by 2030
through uniting South Africans, unleashing the energies of its
citizens, growing an inclusive economy, building capabilities,
enhancing the capability of the state and leaders working
together to solve complex problems.
The Banking Association is committed to making a positive
contribution to this by supporting various programmes of
the NDP. The National Planning Commission has determined
that if South Africa’s average growth rate were increased by
two percentage points, job creation would be boosted and
unemployment would decrease to below 10% by 2030. The
Banking Association member banks play an important role
in the economy, and working with government and other
social partners to realise the objectives of the NDP would
make a significant contribution in promoting economic
growth, and reducing unemployment, poverty and income
inequality.
The Banking Association provides a platform for the
banks to engage with policy, legislation and regulations
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Our member banks, National Treasury, Financial
Services Board, SA Reserve Bank and other
stakeholders reached an agreement to improve
responsible lending and prevent households from
being caught in a debt spiral. Has there been any
progress and, as the new chairman, how will you be
able to ensure t H[\X