Zimbabwe: Banks in Panic Mode

From Economic Views from Zimbabwe Thu Nov 29 2012, 08:47:00

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:

Africa:   Mass Protests and Mobilization Swept Continent - Amnesty Annual Report (news)
Amnesty International
22 February 2017

Mass protests, movements, and mobilization – often articulated and organized through social media – swept the continent in 2016. Protesters and human rights defenders repeatedly found ... [read more]

South Africa:   Court Orders Govt to Withdraw ICC Decision (news)
News24Wire
22 February 2017

The High Court in Pretoria has ruled that government's decision to withdraw from the International Criminal Court (ICC) was unconstitutional and invalid. Deputy Judge President Phineas Mojapelo said ... [read more]

Zimbabwe:   I Don't Want Party With Thieves - Mugabe (news)
The Herald
22 February 2017

President Mugabe says he has the will to tackle corruption by bigwigs, but punishment will only be meted on those found guilty after thorough investigations. He said the relevant Government arms were ... [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!