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NBM gives FIMDA MK0.5 million for lake conference

Phiri-second-right-presents-the-dummy-cheque-to-Nyirenda-left.

Phiri-second-right-presents-the-dummy-cheque-to-Nyirenda-left.

By Mc Donald Chapalapata, Contributor

BLANTYRE-(MaraviPost)-Listed National Bank of Malawi (NBM) plc Wednesday morning gave MK500,000 to the Financial Market Dealers Association (FIMDA) towards their annual lake conference slated for 11 to 13 October 2019.

NBM Treasury Sales Manager Grace Linda Phiri said the FIMDA conference will prepare dealers for the challenges they are likely to face and how to overcome them.

“A dealer must always be up to date, sober, professional, of utmost integrity in carrying everyday duties. Challenges will always be there, and we are at the core of managing and pricing risk in our economy.”

“We as NBM as well as FIMDA members have seen the highs and lows of the trade, the pressures during economic upturns and downturns, forex shortages, Malawi Kwacha liquidity squeezes, too much Malawi Kwacha, too much forex and in all this we have to respond to everything professionally, efficiently, transmit proper signals and make money for our respective institutions and the economy at large,” said Phiri.

She noted that any changes in monetary policy, be it interest rates, inflation, liquidity, any shocks in the environment like floods, drought and elections have an immediate and direct impact on the economy for they influence how all products will be priced.

“A dealer must always be up to date, sober, professional, of utmost integrity in carrying our everyday duties. Challenges will always be there and dealers are at  the core of managing and pricing risk in our economy. We hope the conference will discuss these issues and come up with solutions,” explained Phiri.

FIMDA Treasurer Douglas Nyirenda thanked NBM plc for the donation saying it will go a long way in making the lake conference a success.

“We are very grateful for the donation that we have received today from NBM plc. It is not the first time that the bank has helped us, it has been supporting us for a long time and we really appreciate their support,” said Nyirenda.

He said this years’ conference will be held in Mangochi from 11 to 13 October 2019 and the theme is ‘Navigating the next level of the economy and financial markets’.

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