Initiative seeks to award best board directors in banking and insurance

Outstanding members of boards of directors for banks and insurance firms will now be awarded in a move that seeks to celebrate excellence in the group of people that are entrusted with responsibilities of making decisions on behalf of shareholders.

The inaugural Best Board Leadership Award (BBLA) for the banking and insurance sectors is set to be held in Dar es Salaam on January 30, 2015.

The event, to be held for the first time in Tanzania, is organized under the auspices of the Tanzania Bankers Association (TBA) and Association of Tanzania Insurers (Ati).

The BBLA Coordinator, Ms Neema Gerald, believes the awards will give an insight of how a best board can help an organization to flourish and achieve best performance in the area of its specialization.

“We have seen the need to identify and appreciate valuable inputs board members give to their organizations. We believe that behind every success of a financial organization, there is a very strong and active board of directors. Now, these values that most of board members have should be recognized and appreciated,” she said.

This means getting away from the tradition whereby people only tend to think that the success of a financial entity or any other company is basically the making of its chief executive officer and/or the managing director. 
Source: The Citizen, reported by Felix Lazaro from Dar es Salaam, Tanzania
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