Depositors have expressed concern over the high banking
charges levied by financial institutions.
Speaking at a post-2020 Budget breakfast meeting
co-organised by Zimpapers and ZBC in Harare this morning, some delegates called
for the intervention of Finance and Economic Development Minister Professor
Mthuli Ncube.
Prof Ncube conceded that bank charges were on the Higher
side, and even suggested that banks should give interest to depositors.
“Bank charges are an issue. We are also want banks to give
interest on deposits,” he said.
He said both local and foreign currency accounts should
attract interest to encourage more deposits and rebuild confidence in the
banking sector. Previously, some banks maintained tight cash withdrawal limits
in a bid to force customers to make as many transactions as possible so that
they make money from transaction costs. Herald
Hon Christopher Mutsvangwa says business should be seeking to grow their ventures through seeking funding from capital markets and not to rely on Gvt. #ZimBudget2020 #PostBudgetBreakfast pic.twitter.com/PdBN1t4Nhs— Ministry of Information, Publicity & Broadcasting (@InfoMinZW) November 15, 2019
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