BY MBONO MDLULI
MBABANE – It is important for industry players within the country’s financial sector to be compliant to protect hard-earned monies belonging to Emaswati.
This was said by Financial Services Regulatory Authority (FSRA) Chief Executive Officer (CEO) Ncamiso Ntshalintshali, in a speech he delivered at Royal Villas in Ezulwini last Friday. This was during the meeting between FSRA and industry players.
Ntshalintshali said by fostering a culture of compliance, industry players did not only mitigate risks and protect stakeholders, but they also prepared the foundation for sustainable growth and prosperity in the retirement funds industry. He clarified that compliance was not a burden, but was an investment in the future resilience and credibility of the country’s financial sector.
“I must emphasise the pivotal role that retirement funds play in our economic landscape. These funds are significant assets, representing the hard-earned savings and future security of thousands of individuals,” Ntshalintshali said.
Given the interconnected nature of the country’s financial system, Ntshalintshali said it was imperative that pension funds exercise prudence and responsibility in executing their fiduciary duties on behalf of their members.
This, according to the CEO, would ensure not only the protection of individual savings, but also the stability and integrity of the broader financial ecosystem. “Together, let us uphold the highest standards of governance and accountability to safeguard the financial well-being of all stakeholders,” he said.
He pleaded with the financial service providers to carry forward the spirit of collaboration and collective responsibility. “Let us continue to engage in meaningful dialogue, share best practices, and work together towards a more resilient and compliant financial ecosystem,” he said.
Ntshalintshali furhter urged each and every one of financial service providers and other stakeholders alike to embrace a culture of compliance as a guiding principle in their operations. “Let us prioritize ethical conduct, sound risk management practices, and adherence to regulatory requirements in all our endeavours,” he said.
