All set for EAC regional bankers’ conference-Video

Thursday August 8 2019

By The Citizen Reporter @TheCitizenTZ news@tz.nationmedia.com

Dar es Salaam. All is set for a regional bankers’ conference which is expected to focus on the role of ethics in the financial services which are facing rapid changes enabled by digital technologies.

The five-day East African Banking School which is scheduled for next week in Arusha will gather about 100 participants to discuss trends and innovations which have effects on the performance of financial services.

This is the 19th session in the series of the annual conference attracting participants from the East African Community (EAC) member states.

Various technologies and innovations are being introduced to simplify provision of financial services and promise to bring efficiency in the institutions.

However, such developments have also come with concerns like cybercrime, tech-related scandals, redundancy of employees and other innovations becoming unsuccessful.

“Tanzania is proud of being an active participant in the digital changes and the central bank is playing its party in ensuring security of the transactions. We now want to bring in the aspect of ethics as a way of increasing customer confidence and protection of the financial institutions,” says the Tanzania Institute of Bankers (TIOB) executive director Mr Patrick Mususa.

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“There are a lot of innovations but the question is: can these systems observe ethics and key principles of financial service provision?” he added.

The Tanzania Institute of Bankers in collaborating with its Kenya and Uganda counterparts collaborate in hosting the annual gathering.

“We have 12 facilitators from the banking, legal, telecoms, insurance and technology industries as well as the members of the academia who will share their knowledge during the conference. We hope the participants will learn, share experience and of course enjoy the sessions,” said TIOB finance director Mr Damas Mugashe.

He said the participants are from all six countries of the East African Community.

The conference will also revisit the global trends such as crypto currency to pick lessons.

There will be other topics such as team building, organizational culture, consumer protection and others but digital transformation will cover almost 70 per cent of the conference, according to Mr Mugashe.