Zimbabwe: Banks in Panic Mode

From Economic Views from Zimbabwe Thu Nov 29 2012, 03:47:00

Zimbabwe: Banks in Panic Mode

Most commercial banks in Zimbabwe are believed to have plunged into panic mode after Finance Minister Tendai Biti announced plans to introduce measures that could eat into a substantial chunk of the financial institutions' income. Sources in the banking sector said the Bankers Association of Zimbabwe has since engaged Reserve Bank of Zimbabwe Governor Gideon Gono for a Memorandum of Understanding around a number of burning issues. Discussions are likely to revolve around the issues of lending, interest and savings rates and bank charges among a host of other matters.

Treasury also wants banks to agree with the RBZ on a framework for lending rates, but with a 10 percent cap above cost of funding. But the most contentious aspect of discussions is likely to centre on the directive that banks should not levy deposits below US$800.

[view whole blog post ]
 See More    |     Report Abuse

People and Organizations:


You might also be interested in the following news stories:

Tanzania:   Gross Domestic Product On Record 7.9% Growth (news)
Tanzania Daily News
30 September 2016

Gross Domestic Product grew by 7.9 per cent in the second quarter of 2016, beating by far the 5.8 per cent rate recorded in the corresponding period last year. The National Bureau of Statistics (NBS), ... [read more]

Africa:   ICC Prosecutor's Policy On Case Selection - Timely, but Is It Enough? (analysis)
Institute for Security Studies
28 September 2016

On 15 September, the Prosecutor of the International Criminal Court (ICC), Fatou Bensouda, released her office's much-anticipated Policy Paper on Case Selection and Prioritisation. The policy is a ... [read more]

Ethiopia:   Soil Map Arms Farmers With New Fertilisers in Climate Fight (news)
Thomson Reuters Foundation
29 September 2016

Nationwide survey of soil conditions is leading to more effective use of fertilisers and could boost food security A comprehensive digital map charting soil fertility in Ethiopia is proving an ... [read more]



blogAfrica is allAfrica.com's platform to help you keep an ear on the African blogosphere. We draw diverse voices from around the world who post regularly and insightfully about African issues. Bloggers, submit your blog's rss-feed!