conference scheduled to take place in Victoria Falls.
The conference will run from June 22 to 24 and seeks to explore the role of deposit insurance and mainstreaming people in rural areas into formal banking.
IADI chairman for the African Regional Committee Mr John Chikura said the role of deposit insurers was more critical in the wake of the global financial crisis.

Mr Chikura is the chief executive of the Deposit Protection Board.
“Deposit insurers have been assigned a bigger role than before the global financial crisis. The conference will explore the role of deposit protection and financial inclusion. Financial inclusion means banking the unbanked,” he said.

High-profile speakers at the conference include Minister of Finance Tendai Biti, Reserve Bank of Zimbabwe Governor Dr Gideon Gono and the International Association of Deposit secretary-general Mr Carlos Isoard.
Minister Biti would deliver the opening remarks while Dr Gono will present on the role of micro-finance in economic development and poverty alleviation.

Mr Isoard will speak on the innovative ways of promoting financial inclusion and the chairman of the Deposit Protection Fund of Kenya, Daniel Ng’atuny, will speak on setting up and assessing strength of deposit insurance systems. Mr Chikura will deliver a presentation on core principle of deposit protection.

Zimbabwe still holds unpleasant memories of the 2003-2004 banking crisis, which claimed the scalps of 14 banks.
Other keynote speakers include Barclays Bank Zimbabwe managing director Mr George Guvamatanga, who is going to speak on the role of banks in economic stability.

Speakers from the USA, Malaysia, Tanzania, Nigeria, Sudan, Taiwan, Switzerland, India and many other local banking experts will also make presentations at the event.
“It is rewarding for Zimbabwe to be asked to host an important event bringing luminaries from all over the world. It is also an honour that I was elected chairman of the organisation for the Africa chapter,” said Mr Chikura.

He said the conference would help Zimbabwe strengthen its capacity to deal with financial sector stability and learn from the experiences of other countries.
Mr Chikura said the country would know better what to expect and how to deal with issues of financial crisis that saw many losing their savings in the past.
“This will also help us set up the structures and facilities to help in the situations of financial instability. This will help to market Zimbabwe,” he said.
Zimbabwe’s Deposit Protection Board collects a premium from bank deposits, which goes towards building a fund to be used in the event of bank failure.

 

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