National Bank of Malawi backs internal auditors’ conference, stresses governance as ‘currency of trust’

National Bank of Malawi Plc has reaffirmed the central importance of good governance to the banking sector, arguing that robust internal controls remain essential to sustaining public confidence in financial institutions.

The bank’s Head of Internal Audit, Noel Tomoka, made the remarks in Blantyre as NBM Plc donated K5 million to the Institute of Internal Auditors (IIA), which is due to hold its annual general meeting and conference in Mangochi from 7 to 13 September.

The conference, themed “The Currency of Trust: Governance as Strategy, Assurance as Proof,” reflects growing emphasis across Malawi’s financial sector on strengthening oversight functions amid heightened scrutiny of corporate accountability.

Tomoka said the theme aligned closely with NBM Plc’s own institutional priorities.

“This theme resonates well with our belief in the importance of good governance and strong internal controls,” Tomoka said, noting that internal audit functions play a critical role in detecting weaknesses before they escalate into reputational or financial risk for institutions operating in an increasingly complex regulatory environment.

The donation comes as Malawian banks face continued pressure to demonstrate transparency, particularly following a string of high-profile financial scandals involving major institutions in recent years, underscoring why governance has become a central talking point across the industry.

Institute of Internal Auditors Chief Executive Officer Albert Dambula welcomed the contribution, expressing appreciation to NBM Plc for its continued financial support of the profession’s development in Malawi.