Subject : Africa Richest woman open Banking Services in Namibia ! New Era dated Thursday, October, 09, 2014 reported that “Bank BIC Namibia Limited, have received a receipt of a provision banking license from Bank of Namibia to establish operations in Namibia. Foreign bank is a financial institution engage in lending of day to day banking services in the country, with it’s formerly bond. Financial banking historians recorded that foreign banking institutions have been around for two (2) centuries now. However, most African countries central bankers and government they fear in mind is that unauthorized opening a foreign bank in the country may bring in their assuming dominant position in the domestic or private market, by contract out less efficient or less resourceful local bank, in economic aspects big local bank failures or fear of big international foreign bank have an exceptional characteristic of safety around them. The reason affecting an international or foreign banks when leave the country, it will be viewed as a signal of low future bank profitability in its home country rather than as a sign of poor market, secondly foreign banks will choice to close their banking operations in foreign countries, when their main bank is in financial crises. We should look at example of foreign banks opened their doors in Turkey they became the first banks to open 100 percent computerization of all accounts, a technology system which was taught to many local banks in Turkey. Bank BIC Namibia Limited is expected to provide financial system with greater access to international financial market and improve competence and increase inter-bank competition.
Posted on: Thu, 11 Dec 2014 10:26:05 +0000