BoI set to review operations as it hosts 100 DFI member countries in Confab, November
The Bank of Industry,(BoI) will in November host 100 member countries in a conference organised by the Association of Development Financed institutions,(AADFI),which is focused on strengthening the institutions of the DFIs globally for greater impact on the economy.
The Bank of Industry would host the event which is being organised by the Association of African Development Finance institutions,(AADFI),while also capitalising on the opportunity to review operations, have exchange programmes, while also promoting cross border transactions in its operations,Olukayode Pitan the managing director said.
Joseph Alfred Amihere, the Secretary General of AADFI said during a pre-paratory visit of the Association to the Managing director of the Bank of Industry, Olukayode Pitan and the steering committee of the conference that the event would host member countries from Europe and Asia and other African countries.
“This is a prestigious event to host a large number of member countries and we have our members outside the continent coming for this event. The hosting rite was narrowed down to about three countries, and Nigeria emerged victorious.” he said.
“There was a time we faced the battle of liquidation of the DFIs, but we fought back and made our case known to the World Bank, and got a positive response. The AADFI is the only institution in the continent, which has got observer status at the World Bank, because they have seen that the DFIsin Africa play a key role in economic development” he informed.
The conference, he adds would also be looking for a way of strengthening various development financial institutions, adding that,” We have a template for countries and methods of good practices to ensure our member countries comply as should”
He informed further that the conference ,”Should be able to examine the ratings of all the institutions, how they perform individually in their various countries, and also award them new grades to prepare various managing directors to review practices globally. It would also afford various DFIS to learn from one another through their various institutions”
In his response, Olukayode Pitan, the Managing director of the BoI said the conference would offer the bank opportunity to review some of its practices from their global peers for improvement.
“The conference would offer us a platform for the meeting of peers; as such we would compare with other 100 countries and review some of our practices. We would also be able to network.
According to Pitan, “We are lending money on rates below the market even taken more risks in lending than the commercial banks, so we must find a creative way to boost our financial base., and ensure the best people pilot the affairs”
He adds that the conference would also open doors for exchange programmes, cross border transactions and learning from country to country experience to ensure best global practices in the lending.
HARRISON EDEH, ABUJA
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