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Financial services are critical tools – Fundanga

Financial services are critical tools – Fundanga
Written by Kabanda Chulu
Thursday, January 15, 2009 9:00:58 AM

BANK of Zambia (BoZ) governor Caleb Fundanga has said financial services are critical tools in assisting people to step onto the economic growth ladder.

During the launch of Barclays Bank Zambia’s queue management system (QMS) and four enhanced ATM lobbies that will result in customers to spend less waiting time before being served, Dr Fundanga said Barclays’ expansion programme had a positive bearing on the economy with many people enjoying access to services in the country.

“This is instrumental for broader human development by letting clients invest in themselves and seek protection from shocks and bad fortune,” said Dr Fundanga. “Therefore, I am impressed with the Barclays’ efforts of decreasing congestion in branches though innovative systems because we continue to receive complaints from customers of different banks on congestion in branches as well as faulty automated teller machines (ATMs).”

And Barclays Bank chief operating officer Bedah Salasini said QMS machine would be placed at the entrance of the bank.

“Customers when getting inside customers will get a receipt whose number will be called and the customer will then be directed to go to a certain counter to be attended to by the teller. We have installed one at Mutaba house branch and another one will be installed at Long Acres. This machine which costs about US $ 20,000 from South Africa will improve the systems and efficiency and will shortened the time that customers wait to be attended to in the bank,” said Salasini.

And Barclays Bank managing director Zafar Masud said the bank would by May this year increase the number of ATMs from 90 to 150 countrywide.

“The increase in ATMs is already bearing positive results on the economy as it is providing people with easy access to their money and our retail expansion programme has improved the culture of banking among ordinary Zambians and this has resulted into availability of more funds to the banking sector for onward lending to other productive sectors,” said Masud.

Labels: BANKING, CALEB FUNDANGA

posted by MrK @ 9:02 AM