The Banking Association South Africa
The Banking Association South Africa is an industry body representing all registered banks in South Africa. These include both South African and international banks. The Main Board of the Association comprises the Chief Executives of the five largest South African banks, two Chief Executives representing international banks and two Chief Executives representing the other South African banks. The Banking Association has also established an Operating Board that meets once a month to provide strategic guidance and direction on the myriad of issues addressed by The Banking Association. The Operating Board is structured similarly to the Main Board, but representation is through the heads of retail of the institutions.
The genesis of The Banking Association South Africa was the Council of South African Banks (COSAB). In March 1992, four separate associations addressing specific areas of activity in the banking sector were merged to form COSAB. These Associations were:
- The Association of Mortgage Lenders
- Merchant Bankers Association
- Clearing Bankers Association
- Association of General Banks
COSAB was a committee-driven structure and, while relevant and effective at that time, proved to be ineffective as an industry body as the industry evolved in the context of a democratic dispensation. In March 1998, under the stewardship of R.S.K. (Bob) Tucker, the leadership of the banking sector decided to establish The Banking Council South Africa. The Banking Council of South Africa was an executive driven body that was structured to address the challenges in the banking sector.
In March 2005, The Board of The Banking Council of South Africa decided to change the name of the body to The Banking Association South Africa as this was a more appropriate description of its representative role.
Mr. Cassim (Cas) Coovadia was appointed Managing Director of The Banking Association South Africa.
Visit The Banking Association South Africa website.