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PROFESSIONALISM and integrity are the pillars of a thriving banking sector, Bank of Tanzania (BoT) Governor, Professor Florens Luoga has argued and asked bankers to observe the industry’s ethics.
“Professionalism means adherence to clearly defined ethical guidelines… you have learnt the ethics, which the profession demands; use your professional expertise with integrity,” Prof Luoga told over 140 graduands at the Tanzania Institute of Bankers’ (TIOB) 23rd graduation in Dar es Salaam over the weekend.
In a speech read on his behalf by BoT’s Director of Financial Sector Supervision Jerry Sabi, Governor Luoga challenged bank and financial institutions in the country to invest adequately in the training of their employees, saying the technological advancements and changing market demand have created the need for highly trained banking professionals.
He further challenged the financial institutions to give moral and material support to their employees to acquire professional banking qualifications, which he described as “essential for handling the banking business in an efficient, secure and reliable manner”.
The central bank’s chief said the introduction of new financial products and services like automated teller machines, debit cards, internet banking, mobile banking, digital and electronic payments have increased demand for well trained, reliable and ethical professionals. Prof Luoga who doubles as Chairman of TIOB’s Governing Council said the integrity of the banking industry relies on the ethical conduct of its professionals.
“The knowledge and skills you have acquired are your most important ingredients to strengthening your banking carrier and financial service industry,” Prof Luoga said, imploring the graduands to continually learn to widen their understanding.
He assured of the collective efforts of the central bank, licensed banks and financial institutions in building the capacity of TIOB as its members and guarantors remain a key contributor to the growing numbers of skilled professional bankers in the country.
TIOB Executive Director Patrick Mususa said the institute will continue to improve the e-learning as an alternative study option for candidates preparing for professional banking examinations, citing the introduction of electronic book-e-book-services to complement the traditional printed books.
“The institute has become more accessible through these online study platforms and will continue improving with the ultimate goal of reducing classroom time for all of our programmes,” said Mr Mususa.
The institute has been working closely with the East African Institutes of Bankers of Kenya and Uganda, the regional partnership that has facilitated knowledge and relevant experience sharing for the development of the banking profession in the region.
TIOB has as well nurtured cordial working relation with the 1997 formed Alliance of African Institutes of Bankers (AAIOB), with TIOB being the founding member and treasurer to Africa’s professional body.
The 13-member alliance has developed and adopted a common syllabus on which all members have based their professional examinations since May 2011.
“The alliance aims at promoting internationally acceptable standards of knowledge, skills, competences and conduct in the banking industry across Africa,” said the executive director.
The 137 candidates graduated with the highest qualification in the banking industry- Certified Professional Bankers (CPBs)-while eight others were awarded Banking Certificates. The new CPBs bring to over 1,000 the total number of fully qualified banking professionals.
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