Sabric welcomes new chief executive
THE SOUTH African Banking Risk Information Centre (Sabric) has welcomed its new chief executive, Nischal Mewalall, who started his tenure on June 1.
Sabric was formed by South African banks to support the banking industry in combating crime.
The chairperson of the Sabric board, Y Abba Omar, said that after an extensive search, the decision was made to appoint Mewalall.
“He brings to the organisation a wealth of experience and insights which can only help build on Sabric’s firm foundations while also looking at innovative responses to the ever-evolving world of crime and fraud,” said Omar.
Mewalall was the head of crime and security risk management at First National Bank, where he was responsible for co-ordinating the detection of and response to crime and security threats across the Firstrand group.
His career began at the National Prosecuting Authority, where he served as a prosecutor and subsequently spent 13 years at the Financial Intelligence Centre, leading the regulator’s monitoring and analysis division.
“I look forward to leading Sabric and building on its success by leveraging technology, data and AI to bring even greater value to our members and stakeholders, as after all, they are at the heart of this business,” Mewalall said.
The creation of public awareness of bank-related crimes and educating the public on how to protect themselves is one of Sabric’s key focus areas.