NBFIRA Partners With Statistics Botswana
Gaone Marumoloa | Monday March 20, 2017 16:38
Cooperation between the two parastatals dates back to 2013 but had not been formalised.
The Acting Statistician General, Burton Mguni said the signing of the MoU provides a clear framework for the two parties to cooperate and communicate constructively in order to improve the breadth and quality of data collected by the two agencies.
He said the two parties will strive for improved data standards to support more robust macroeconomic scrutiny and non-bank financial institutions surveillance.
“The data exchange protocol between the two organisations will be in accordance with the provisions of the different Acts, in particular,” he said.
Present was the chief executive officer of NBFIRA, Oaitse Ramasedi who said the signing of the MoU is premised on the need for collaboration on data for entities the authority regulates.
Ramasedi said there should not be ambiguities in their priorities as they formalise the working agreement to advise each other on issues relating to improved transparency, accurate and timely information sharing.
He further said the collaboration will help equip them with insight on issues of common interest such as continuing viability of sector data in order to protect consumers of financial services as well as determine the market size of regulated entities and their contribution to the country’s GDP.
“The MoU will also help in determining the sector growth and other market variables which can further give us indicators of possible market failures when numbers of consumer products uptake dwindles,” he said.