By Lylie Happiness
Windhoek, Aug. 23— The Bankers Association of Namibia (BAN) has responded to allegations of home repossessions and perceived exploitation of Namibians by commercial banks, asserting that these claims lack credible substance. This statement comes ahead of a planned nationwide protest against commercial banks and the Bank of Namibia, organized by the “National Ownership Association” due to rising home repossessions driven by increasing mortgage rates.
Brian Katjaerua, CEO of BAN, stated that the association is aware of the planned protest and respects people’s rights to assemble peacefully and express themselves within the bounds of the law. He emphasized that BAN promotes open and fair relationships between customers and banks. To further this aim, the association recently introduced its Code of Banking Practice, which outlines the minimum service and conduct standards that customers can expect from banks.
This code, available on the BAN website (www.ban.na), seeks to provide customers with better insights into their rights and responsibilities, as well as those of the banks providing services and products. Katjaerua highlighted that BAN, along with its member banks, is dedicated to upholding the standards outlined in this code. These standards are grounded in principles of transparency, fairness, accountability, and reliability, all of which contribute to fostering public confidence in the banking system.
Customers with grievances against their banks are encouraged by BAN to first approach their respective commercial banks to resolve disputes. If the resolution is not achieved, they are advised to turn to the Bank of Namibia for assistance in addressing issues with a particular commercial bank or to seek legal recourse as a last resort. -Namibia Daily News