Thursday, 7 June 2018
THE TANZANIA INSTITUTE OF BANKERS AND USAID-ENGINE PROGRAM LAUNCH TWO NEW TRAINING COURSES FOR FINANCIAL INSTITUTIONS
Dar es Salaam, Tanzania (JUNE 5, 2018) - Tanzania Institute of Bankers(TIOB) in association with the The Feed the Future Tanzania Enabling Growth through Investment and Enterprise (ENGINE) program supported by the United States Agency for International Development (USAID), has today launched the Non-Perfoming Loans (NPL) Management course and the Agricultural Finance course to be offered to financial institutions in Tanzania.
Speaking during the launch, the guest of honour, Dr. Bernard Kibesse, Deputy Governor Financial Stability and Deepening at Bank Of Tanzania (BOT) welcomed this opportunity for financial institutions to improve their skills base at a time when Non-Performing Loans (NPLs) need to be reduced and the country’s Agricultural sector is in much need of financing. “I urge all CEO’s of Banks and Financial Institutions in Tanzania to ensure that your employees attend these TIOB courses so that they can improve their skills and capabilities in tackling problem loans and financing agriculture”, said the Deputy Governor, who also represents the BOT Governor as Chairman of the Tanzania Institute of Bankers (TIOB).
TIOB has partnered with ENGINE to develop training courses for financial institutions in Tanzania, whereby TIOB will benefit by using ENGINE’s expert trainers to develop new training courses for its members and thereby enhance the value of their learning content through shared case studies and best practices, which will subsequently contribute to the sustainability of the Finance sector in Tanzania.
Patrick Mususa, The Executive Director of TIOB, said, “The collaboration with USAID funded ENGINE program has been beneficial for our financial institutions. We have received technical expertise that has helped shape the industry and will effect sustainable change within the financial services sector”, said Mususa.
On the other hand, Scott Bennett, ENGINE Deputy Chief of Party, said, “The ENGINE program has been supporting financial institutions to better respond to the needs of Tanzania’s small businesses. We are very excited about these two new training courses with TIOB and we expect that the insights and practices featured in these courses will positively influence the way banking operations are conducted in Tanzania”, said Bennett.
The collaboration between TIOB and the ENGINE program resulted from an MOU that was signed in early February in recognition of a shared commitment to strengthen the capacity and responsiveness of Tanzania’s financial institutions. The NPL Management training program is due to start in this current month of June 2018 and will be announced through the TIOB website www.tiob.or.tz; the Institute’s official email and social networks.
The Tanzania Institute of Bankers (TIOB) was established in 1993 under the Companies Ordinance (Cap 212) of the laws of Tanzania, with the mandate of promoting the banking profession by providing professional banking education and skills development to bank staff in Tanzania. This mandate followed the liberalization of the banking and financial sector in the country which opened doors to private banks and financial institutions. In the formative stages, the aim would be to alleviate the acute shortage of professional and efficient career bankers, thus promoting quality banking and financial services to the public.
Enabling Growth through Investment and Enterprise (ENGINE) is a four-year, USAID-funded Feed the Future program that facilitates the review and reform of regulatory, informational, and financial channels that support business growth and investment in the southern agricultural regions of Mbeya, Morogoro, and Iringa, as well as Zanzibar.