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Stanbic Bank Instructs Clients On Risk Management

August 29, 2014

STANBIC Bank will conduct training to its clients how to manage financial risks in a bid to improve their ability to handle such risks which affect the growth of business.

The bank which is part of Standard Bank Group, said it was now instructing its clients mainly currency sellers on how to handle financial risks.

The need for organizing the Foreign Currency Risk Management seminar to its clients comes after the bank observed that most corporate clients, in the ordinary course of doing business are exposed to foreign currency fluctuations.

The bank's Head of Global Markets, Mr Thomas Bisonga told reporters that the training was designed to provide tools to its clients on how to deal with risks when they do financial transactions.

"We have observed that most corporate clients, in the ordinary course of doing business, are exposed to foreign currency fluctuations," he said.

He said their clients are now living in the world of uncertainty with regard to business doing, therefore there is a need as bank to create awareness to them about financial risks.

"We believe, the training will help our clients (currency sellers) to deal with risks that might face their business particularly on the financial matters," he said.

Mr Bisonga said they understand that their clients know the ambiguity in the financial matters that could impact their business adversely but they might not know how to deal with it.

In this regard, he said the bank has decided to organize the Foreign Currency Risk Management seminar so as to offer the required tools to their clients that would help to deal with risks of doing business.

"We are here to show our clients, what are the available alerts on the market and how to deal with them," he noted. He said that the primary purpose of the seminar is to illustrate to clients that whether actively or passively managed, clients are expressing a view on the direction they expect currencies to trade.

The secondary purpose according to him is to provide clients with information on the suite of products they can utilize to either partially or fully neutralize the unknown currency movement. He said for the purpose of this seminar, the bank focused on clients who are predominantly foreign currency sellers.

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Source: AllAfrica

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