Mozambique: Commercial Banks Can Be Fined for Mistreating Clients

28.02.18

 | Source: All Africa

 

The governor of the Bank of Mozambique, Rogerio Zandamela, warned on Monday that commercial banks who continue to behave in an extortionate way towards their clients could be fined.His warning arose from the recent increase in the fees for withdrawing money from ATMs. Up until January, the withdrawal fee was seven meticais (about 11.5 US cents), regardless of the sum withdrawn.But in late January the withdrawal fee jumped to 9.5 meticais (an increase of over 35 per cent). Thus every time a...

Kenya: Micro-Finance Banks Face Higher Capital Buffer Rules

27.02.18

 | Source: All Africa

A new proposal backed by the Central Bank of Kenya recommends reviewing microfinance banks minimum capital requirements upwards

Tanzania: BOT's New Measures to Boost Lending

26.02.18

 | Source: The Citizen - All Africa

The Bank of Tanzania (BoT) has published new measures intended to improve access to credit.

Zimbabwe: Lack of Trust in Banks Drives Cash Shortages

23.02.18

 | Source: The Herald - All Africa

Lack of trust and confidence in banks is one of the reasons the public are not banking their money, a factor partly to blame for the prevailing cash shortages, Finance and Economic Planning Minister Patrick Chinamasa has said.

Government has been battling cash shortages since 2016, which have persisted despite growing use of plastic money, with confidence issues part of the major reasons people are not keen to bank, but stash cash at home.

Minister Chinamasa told Senate last week that the new...

Tanzania: Interbank Cash Market to Determine Price of Money

22.02.18

 | Source: Tanzania Daily News - All Africa

The interbank cash market is set to take a monetary centre stage as the economy migrates to interest-rate targeting next month. Under the new monetary framework, the price of money will dwell on interbank rates unlike current that the rates are benched using government securities--treasury bills or bonds.

The interbank is financial system of trading currencies among banks and financial institutions. The new system, to be introduced next month, will enable the central bank to regulate closely...

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