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I had the pleasure of sitting down with Mr. Theobald Sabi, FCCA, Managing Director of NBC Tanzania, and Chairman of the Tanzania Bankers Association(TBA). We discussed a range of topics, including financial inclusion, the business environment, sustainable finance, and the Tanzanian economy. The following are the Key Takeaways: -There is a profound opportunity to enhance banking penetration in the Tanzanian market. According to the Finscope Survey 2023, around 78% of the population is unbanked. To address this, we must design products that speak to the needs of Tanzanians, with technology innovation at the core of our initiatives. -As Chairman of the Tanzania Bankers Association, Mr. Sabi informed that the banking sector is committed to remain at the forefront of sustainability, advocating for the attainment of Sustainable Development Goals (SDGs). -Tanzania's strategic geographical advantage and ongoing policy and regulatory reforms implemented by the Government for a conducive business environment continue to position the country as an attractive investment destination. -To ensure sustainability, banks should focus on financing and investing in economic activities that protect the environment, uplift society's welfare, and secure high business performance. -Continuous public financial education is also key to enhancing the participation of Tanzanians in the capital markets, particularly with the various products that exist in the market. -The utilization of capital markets to mobilize financial resources will be critical in sustaining financial deepening and participation of Tanzanian businesses and individuals in the formal financial system. -To ensure that Tanzania's economy is inclusive and sustainable, there has to be increased partnership among stakeholders. Click the YouTube link below to watch the full programme. Godwin Jaha Semunyu Brendansia Kileo #businessenvironment #privatesector #sustinablefinance

My latest Blog on MALI 's progress and challenges for digital financial inclusion. #digitalfinancialservices #Mali #worldbank #PAFEEM

🇪🇺 BANKING CRISIS MANAGEMENT (CMDI package) The European Parliament develops its stance on strengthening banking crisis management 📅 March 20 - Economic and Monetary Affairs Committee (ECON)Finalization of the position on the CMDI legislative package, ready for voting during the April plenary session. 🔗 Process: • Interinstitutional negotiations with the Council of the EU will begin after the June 2024 elections. • The EU Council will define its position prior to negotiations. 🎯 Key objectives: • Extension of bank resolution to medium-sized banks, especially those with regional systemic impact. • Use of national deposit guarantee schemes (DGS) for bridge financing during resolution, if proven more economical than bankruptcy. ⚖️ Mechanisms: • All DGS schemes must establish a bridge financing. • No special treatment for IPS systems in Germany and Austria. • Banks must demonstrate readiness for resolution, especially by holding the necessary MREL capital. 💡 Creditors: • Proposal for a two-tier system for creditor hierarchy: • Increased protection for individual and SME deposits. • Less protection for large corporations and public authorities. 📊 Banking Union: • Advocates for enhanced harmonization and transparency of DGS interventions. • Protection of savers up to 100,000 euros in the event of bank failure. • Extension of protection for certain financial transactions between 500,000 and 2.5 million euros over six months. 📌 #EU #CMDI #BankingCrisis #CrisisManagement #BankResolution #DGS #ECON #BankingUnion

It's inspiring to see the commitment of Mr. Theobald Sabi, FCCA and the Tanzania Bankers Association (TBA) towards sustainable finance and inclusive economic growth. The key takeaways from your discussion highlight critical areas for enhancing banking penetration, fostering sustainable development, and promoting financial inclusion in Tanzania. The opportunity to improve banking penetration, especially in a market where 78% of the population remains unbanked, underscores the importance of designing innovative products tailored to meet the needs of Tanzanians. Leveraging technology to drive financial inclusion initiatives will be pivotal in reaching underserved communities and driving economic empowerment. The TBA's dedication to sustainability, as evidenced by its advocacy for the attainment of Sustainable Development Goals (SDGs), reflects a proactive stance towards addressing pressing global challenges such as climate change. By prioritizing financing and investing in environmentally friendly economic activities, banks can play a significant role in mitigating the adverse effects of climate change while simultaneously driving business performance and societal welfare. Furthermore, the emphasis on continuous public financial education and the utilization of capital markets to mobilize resources highlight the importance of enhancing financial literacy and fostering deeper participation in the formal financial system. This approach not only fosters economic resilience but also promotes inclusive growth and prosperity for all segments of society. Overall, increased partnership among stakeholders will be key to ensuring that Tanzania's economy remains inclusive, sustainable, and resilient in the face of evolving challenges. Together, we can build a brighter and more prosperous future for Tanzania Dan Sora Tandasi Tanzania Bankers Association(TBA)

In the tangled web of the EU economy, timely payments are not just about keeping the finances in order but also a foundation for stability and growth. Small and medium-sized enterprises (SMEs) are the backbone of the economy in Europe and are hit the hardest by late payments. 🕓 The recently initiated Late Payment Regulation by the European Commission offers hope for more regular cash flows within member countries and an improved economic environment throughout these countries. 🌍   Continue reading the comprehensive analysis by Lefteris Elia, Risk Methods Advisor at Infocredit Group on the link here: 👇 https://lnkd.in/easqb-Ya   Infocredit Group Ltd is a proud member of Delphi Alliance in #Cyprus under the line of business Compliance Services   #DelphiAlliance #Infocredit #Member #Businesses #Alliance #Compliance #Global

🏦💼 Exciting News in Philippine Banking! 🌐🇵🇭 Check out the details here: https://buff.ly/2N4wZo8 📰🔗 The dynamic landscape of the Philippine banking industry continues to be a key driver of economic growth! 📈💰 According to recent ratings by Moody's, our country's banking system is riding high on stability. 🌐✨ From the giants in universal banking to the smaller players in rural banks, and the non-banking institutions, each segment plays a crucial role in shaping our financial ecosystem. 🌍💪 Discover more about the diverse strategies of these financial powerhouses and how they contribute to our economic prosperity. 🤓💡 Let's celebrate the stability of our banking system and the pivotal role it plays in steering the Philippines towards a prosperous future! 🇵🇭🚀 #PhilippineEconomy #BankingStability #FinancialProsperity #MoodyRatings 🌟

Remittances play a crucial role in the global economy, and our main mission at RAS is to protect consumers, foster transparency, and continuously improve remittance services. We are dedicated to ensuring that every transaction is secure, clear, and efficient. By upholding the highest standards of integrity and innovation, we aim to build trust and provide unparalleled support to the remittance industry, making cross-border money transfers as seamless and reliable as possible. 🌐www.remittance.org.sg #RemittanceAssociation #RAS #SecureRemittance #FinancialSafety #ConsumerProtection #SafeTransactions #RemittanceSecurity #FinancialEducation #CommunitySafety #ProtectConsumers #RemittanceIndustry #FinancialInnovation #ScamPrevention #TrustInTransactions #RemittanceLeaders #ModernMoneyServices #RASInitiatives #SafeMoneyTransfers

Transparency in the Financial Sector is non-negotiable. A report was published in the Punch Newspaper on the 7th of December 2023 titled “Some Banks Capital Adequacy Ratio is low, a CBN report”. The report's author referenced page 48 under section 2.3.3.3, Financial Soundness Indicators, in the Q3 CBN Economic Report published on the CBN website in December 2023. However, the CBN's response to the Punch News Paper report was clear. They debunked it, citing it as a rumour and maintaining that the Nigerian financial sector is stable and the banks are solvent. Six months later, CBN revoked the licence of Heritage Bank PLC, citing breaches of banking legislation, part of which is a low Capital Adequacy Ratio, below the minimum regulatory requirement, I’m sure! Now, I have a question, and all stakeholders in the Nigerian financial sector should ask the same question. ◾ Is only Heritage Bank Plc technically insolvent? ◾ What is the fate of other banks in the industry currently facing issues like Heritage Bank (if there are any)? ◾ Are the remaining banks still solid and viable? I firmly believe that the CBN should prioritise enforcing more transparent reporting practices in the financial sector. This is particularly crucial for key financial ratios that gauge a bank's exposure to its customers, as it will significantly bolster the sector's credibility and trustworthiness and ensure that stakeholders are well-informed about potential risks. This will also give depositors access to information about the risks the banks are taking to expand their balance sheet and earn more income. Finally, it is essential to recognise the commendable efforts of the new leadership of CBN. Their unwavering commitment to upholding the financial system's stability in Nigeria, as demonstrated through robust economic policies, is a testament to their dedication to supporting the real economy and our trust in them. https://lnkd.in/g_ixuHpk #responsiblebanking

Thanks Osama Hassan , great summary for my Domestic network, and eye-opener for my International friends! In the mix we also have the AFSA, Australian Financial Security Authority who "manage the application of bankruptcy and personal property securities laws through the delivery of high-quality personal insolvency and trustee, regulation and enforcement, and personal property securities services." Be awesome to see similar diagrams from other regions in the comments below. #paymenrs #regulation #compliance