Nischal Mewalall steps down as SABRIC CEO after five transformative years
Nischal Mewalall assumed the role of CEO amidst the chaos of the COVID-19 pandemic and nationwide lockdown and provided much-needed stability and strategic direction at a time when many organisations struggled to adapt.
Image: Supplied
Nischal Mewalall has announced his decision to step down as CEO of the South African Banking Risk Information Centre (SABRIC) after five years at the helm.
His departure comes as he looks to pursue personal aspirations, a move met with gratitude from the board, employees, and stakeholders for his indelible impact on the organisation.
Mewalall on Tuesday expressed his gratitude for the opportunity to lead SABRIC, saying it has been an incredible privilege.
"I am proud of what we have achieved together, transforming the organisation, driving digital innovation, and fortifying South Africa's defences against fraud," he said.
"I leave with confidence in SABRIC's continued success and extend my heartfelt thanks to the Board, our dedicated team, and our partners for their unwavering support."
SABRIC is formed by the four major banks to assist the banking and cash-in-transit industries combat organised bank-related crimes by being a trusted financial crime risk information centre leveraging on strategic partnerships.
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Assuming the role amidst the chaos of the COVID-19 pandemic and nationwide lockdown, Mewalall provided much-needed stability and strategic direction at a time when many organisations struggled to adapt.
Under his stewardship, SABRIC not only navigated the challenges posed by the pandemic but also emerged with renewed strength and purpose, embracing a significant digital transformation that has redefined its approach to financial crime mitigation.
Capable of withstanding the pressures of crisis, Mewalall's leadership fostered a technology-driven organisation capable of combating evolving threats. His forward-thinking approach also fortified partnerships between both the public and private sectors, collectively bolstering South Africa's defenses against cyber and financial threats.
Bongi Kunene, SABRIC's board chairperson, said Mewalall has been instrumental in shaping SABRIC into a forward-looking, innovative organisation.
"His leadership duringturbulent times was nothing short of remarkable, and his legacy will continue to benefitthe industry for years to come. We respect his decision to pursue new endeavours andwish him every success in his future pursuits," Kunene said.
The Board has initiated a process to identify a successor and will announce furtherdetails in due course. In the interim, SABRIC remains firmly committed to its mission ofcombating financial crime through collaboration, innovation, and cutting-edgetechnology.
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