, we have read of how “ big ” institutions have been brought down due to unprofessional conduct by their senior executives. i urge investrust bank plc to pro - actively propagate corporate governance standards at all levels of management. i commend the bank for the newly created dedicated function of risk management in its structure. this will provide prudential guidance in the other areas of operations. i also commend the bank for adopting a “ whistle - blowing ” policy to help ensure professional conduct is adhered to at all times. these measures, mr managing director will work to your own bank ’ s benefit. the bank of zambia stands ready to assist in any way in your quest for best practice. 4. lending rates on the banking front, we have witnessed bank lending rates follow the downward trend. mr managing director, these are positive indicators. i am aware that the perennial complaint from our local business houses has been the prohibitive interest rates charged by banks on credit facilities. there is need to continue work on reducing lending rates further as the current levels are still unbearable by most of our upcoming entrepreneurs. in certain fora, mr managing director, the borrowing culture of zambians has been heavily criticized. it is said that zambians borrow with no intention of paying back. it is one of the reasons the bank of zambia is taking seriously the matter of the credit reference bureau being operational as soon as possible. the bank of zambia is keen to ensure this negative perception is eradicated. 5. banking services to the unbanked mr managing director, late last year bank of zambia launched the findings of the fiscope survey, a survey which revealed that 68 % of zambian have no access to banking services. i am glad that, true to private sector entrepreneurial spirit, you have opened a branch in luangwa where there was no bank representation from pre - independence days. in spite of the not - so reliable electricity supply to the area and the not – so good road to luangwa, you did not see these as impediments to bringing banking services to luangwa but rather you have looked at them as challenges to be overcome. mr managing director, the step taken by your bank is to be lauded. i take this opportunity to appeal to the entire management to take the findings of the finscope survey as a serious challenge to the banking industry to reduce the percentage of the unbanked population. 6. planned move to the listed tier of lu

##saka stock exchange i am informed that due to the phenomenal growth of the bank, management and shareholders have agreed to move the bank up the ladder to the listed tier of lusaka stock exchange very soon. this has become necessary in order to raise more requisite capital and enhance the bank ’ s profile and oversight. this is an important step as it will mean that the bank will broaden public participation in its ownership and other public institutions will now participate as well. i therefore call upon zambians and parastatals to take up shares in the bank. i am told that the bank is about to venture into new products such as women empowerment loans and islamic banking. we at the central bank welcome innovations such as empowerment loans but urge caution with products such as islamic loans since an innovation of this nature needs close collaboration with the regulatory authority. 7. closing remarks in closing, mr managing director, having celebrated your 10th anniversary i urge you not sit on your laurels. may this be a time of serious reflection as you chart your path towards celebrating your next 10 years and beyond! i look forward to investrust bank plc being represented in other countries as well. regarding the strategic planning session that we are gathered here for, i wish to commend you, mr managing director for coming up with this initiative. every organization needs to plan its future actions and activities. this is a process that must be embraced by all top management. although only senior managers are represented here today it is my expectation that what ever you will be discussing will have benefited from lower levels of your bank. for your plan to succeed it is important that all senior managers embrace the plan whole heartedly. with these remarks, i declare the strategic planning conference of investrust bank plc officially open. i thank you all.