By Jeremiah Ndjoze

The Bankers Association of Namibia’s (BAN) chief executive officer Dantagos Jimmy, has called on local banks and their clients to foster dealings built on mutual respect and trust. She stressed that relationship between banks and customers should be based on each party understanding its role and responsibilities. 
“Banks play a critical role in any society. Their responsibility goes beyond just providing vaults for safeguarding the savings of its customers. They provide an important service in ensuring that trade and industry thrive, that individuals can save their money and grow their wealth and that a country’s economy can flourish because of a well-established banking and financial services industry,” Jimmy maintained. 
Banks, Jimmy added, have an obligation to take care of clients’ assets, while customers have a duty to honour their commitment to their banks. 
“Customers also need to familiarise themselves with the Code of Banking Practice, a voluntary code adopted by member banks to set minimum standards for customer service,” she stressed.  
Established in 1987, the Bankers Association of Namibia (BAN) acts as the representative trade association for the commercial banking sector in the country.
In addition, BAN has a responsibility to ensure that banking customers are treated fairly.
To this end, Jimmy stated that customers should expect and demand that their banks provide them with information in a plain and understandable manner and language. She added that banks must ensure that enquiries by customers are addressed promptly, provide affordable and accessible banking services, as well as, take reasonable measures to address the physical needs of customers with disabilities.
Jimmy said, it is also important that clients read and understand the general and specific terms and conditions which govern banking products offered to you.
“There are various types of bank accounts, varying from current accounts through to savings accounts as well as business accounts. Customers need to be certain that they are selecting the one that is right for them and they need the bank to provide the relevant information to do so,” said Jimmy.