Monrovia- The Liberia Bankers Association (LBA) has embarked on series of activities this week in commemoration of its 36^th anniversary.

Speaking to journalists on Monday December 3, 2012, on behalf of the association, the Managing Director of the First International Bank Liberia Limited, Mr. Sylva C. Ashimole said events marking the celebrations will be geared toward sensitizing the public about the importance of commercial banks in the rebuilding of Liberia’s postwar economy.

He disclosed that the organization will hold a one-day symposium on Tuesday December 4, at the University of Liberia auditorium beginning at 10 in the morning.

“The theme of the week-long celebration is ‘REBUILDING THE FINANCIAL SECTOR INFRASTUCTURE OF LIBERIA’,” he said.

Mr. Ashimole also said the observance of the Banking week is intended to create awareness of the activities and functions of banks and their contribution to the Liberian economy as well as to engender a stronger appreciation of the banking sector.

He said activities during the week will focus on interaction with the media including participation in talk shows; meeting with various stakeholders; visitations to centers for disadvantaged persons, a Gala Dinner with a key note address by the Executive Governor of the Central Bank of Liberia.

The FIB MD told reporters that participants of the one-day Symposium at the UL auditorium Participants will include the Deputy Governor for Economic Policy, Central Bank of Liberia,

he IMF Resident Representative; the President of LBDI; the Dean of the University of Liberia Law School; the Acting Dean of the University of Liberia Business School; the Director of Regulation and Supervision at the Central Bank of Liberia; the Chief Judge of the Commercial Court; and the President of the Liberia Business Association.

Flanked by CEO’s of other banks including ECOBANK and Global Bank, Mr. Ashimole said Bank Chief Executives from member banks of the LBA who will participate in various radio and TV talk shows and interviews during which they will discuss topical issues affecting the banking sector in Liberia and the Liberian economy in general.

He said the bankers will also visits centers for disadvantaged persons on December 5, 2012 and presentations will be made to the Group of 77 on Newport Street and the Antoinette Tubman Cheshire Home on 10th Street in Sinkor.

The association will also call on Key personalities and Government officials including President Ellen Johnson Sirleaf for discussions on the banking sector.

On December 8, 2012 the association will hold a Gala Dinner at the Executive Pavilion at 7PM.  During the Gala Dinner, a Keynote Address will be delivered by the Executive Governor of the Central Bank of Liberia, Dr. Mills Jones. Trophies will also be presented to the winners and runners-up of the recent Bankers Football and Kickball Tournament said Mr. Ashimole. 

The LBA was founded in 1976 as a non-political, professional, not for profit, association.  The primary objectives of the LBA, as enshrined in its 1995 revised constitution are (a) to promote the continuance of a professional and sound banking system in Liberia; (b) to provide a forum for the discussion and communication of issues affecting the banking community in particular and the economy and development of Liberia in general, and (c) to promote public and individual education of the banking industry and practices.

The association is a major advocacy group in pushing for development of the financial sector in Liberia.  Membership in the LBA is open to all banks having offices within the Republic of Liberia.

The existing membership of the LBA is made up of the following institutions: Liberia Bank for Development and Investment (LBDI); Ecobank Liberia Limited; International Bank Liberia Limited; First International Bank Liberia Ltd.; Global Bank Liberia Limited; UBA (Liberia) Limited; Guaranty Trust Bank (Liberia) Ltd., Access Bank Liberia Limited and Afriland First Bank Liberia Ltd.

The current officers of the LBA are: Mr. Sylva Ashimole (FIBank) – President; Mr. John B. S. Davies (LBDI) – Vice President; Mrs. Chioma Mang (UBA) – Treasurer. 
Ashimole stressed that the LBA aims to serve its members by enhancing their role as financial services providers.

“This is accomplished through advocacy activities both from a legislative and regulatory standpoint, public awareness and education, research, and the promotion of products and services that will help educate, train, inform and support members,” he said.