FNB localises credit card division

IN an effort to localise its banking operations, First National Bank Namibia (FNB) has moved its card operations from its headquarters in South Africa to its local base.

The newly-established credit card division will deal exclusively with issues related to credit cards ranging from processing of new applications, issuing of credit cards to handling of customer queries. The new Namibian range consists of turquoise, silver, gold and platinum credit cards; and was introduced at a launch held by the bank in Windhoek yesterday.These products come with global travel insurance, visa global customer assistance services and e-mailed statements among a host of others.This development comes as part of an answer to calls by customers and policymakers to have operations localised for the good of the domestic market.FNB Namibia Chief Executive Officer, Leonard Haynes, said his company wanted to contribute to propelling the national economy forward in the wake of globalisation.Guest speaker at the ceremony, Finance Minister Saara Kuugongelwa-Amadhila, commended FNB for its latest move.She said more still needed to be done in localising all operations of commercial banks and in the area of accessibility of financial services to all.”Localisation of operations and management decisions is widely believed to be an important aspect in enhancing institutional efficiency and improving customer service.”For too long Namibia’s corporate institutions within the financial sector and beyond have overly relied on head offices abroad for operational and management decisions, leaving their Namibian customers saddled with high costs and frustrated by long waits for otherwise simple decisions,” she said.Currently FNB Namibia has some 7 000 customers and FNB Namibia Holdings is 40 per cent locally owned.Through a black empowerment stake, the shareholding is expected to grow to 45 per cent.The new Namibian range consists of turquoise, silver, gold and platinum credit cards; and was introduced at a launch held by the bank in Windhoek yesterday.These products come with global travel insurance, visa global customer assistance services and e-mailed statements among a host of others.This development comes as part of an answer to calls by customers and policymakers to have operations localised for the good of the domestic market.FNB Namibia Chief Executive Officer, Leonard Haynes, said his company wanted to contribute to propelling the national economy forward in the wake of globalisation.Guest speaker at the ceremony, Finance Minister Saara Kuugongelwa-Amadhila, commended FNB for its latest move.She said more still needed to be done in localising all operations of commercial banks and in the area of accessibility of financial services to all.”Localisation of operations and management decisions is widely believed to be an important aspect in enhancing institutional efficiency and improving customer service.”For too long Namibia’s corporate institutions within the financial sector and beyond have overly relied on head offices abroad for operational and management decisions, leaving their Namibian customers saddled with high costs and frustrated by long waits for otherwise simple decisions,” she said.Currently FNB Namibia has some 7 000 customers and FNB Namibia Holdings is 40 per cent locally owned.Through a black empowerment stake, the shareholding is expected to grow to 45 per cent.