Banks Archives

Malawi Parliament passes motion on interest rate capping

Nov 11, 2021 Mwayi Mkandawire 0 &

Malawi Parliament has passed a motion allowing the tabling of a bill which seeks to amend the Financial Services Act to include interest rate capping. Member of Parliament for Dowa West Abel Kayembe moved the… ...

Chilima tells banks to cut interest rates

Nov 11, 2021 Malawi24 Reporter 1 &

Vice President Saulos Chilima has demanded banks in Malawi to reduce interests, saying Reserve Bank of Malawi will issue a directive on the issue if commercial banks do not reduce the rates voluntarily. Chilima made… ...

Muneneze mabanki omwe akukudulani ndalama – Mlusu

Nov 03, 2021 Archangel Nzangaya 0 &

Boma kudzera kwa nduna ya zachuma a Felix Mlusu lati anthu omwe akudulidwa ndalama zawo ku mabanki mu dzina la VAT, akanene ku banki ya Reserve kuti ndalama zawo zonse zibwezedwe. A Mlusu amayankhula izi… ...

Kapito says people’s money being ‘stolen’ in banks in form of high fees

Nov 01, 2021 Martha Chikoti 0 &

Consumers Association of Malawi (CAMA) Executive Director John Kapito says money is being stolen in form of high bank service charges and this will discourage Malawians from opening bank accounts. Kapito said this in a… ...

Banks, MRA under fire over new VAT law

Oct 29, 2021 Malawi24 Reporter 0 &

Banks in Malawi and the Malawi Revenue Authority (MRA) have come under fire for failing to explain clearly the services to which the new value-added tax (VAT) will apply. Malawians have argued that both the… ...

Govt introduces VAT on banking services

Oct 28, 2021 Archangel Nzangaya 0 &

Malawians should expect tougher times ahead as the Bankers Association of Malawi (BAM) has announced the introduction of Value Added Tax (VAT) on some banking transactions following the amendment of VAT Act by Malawi Government.… ...

Banks fight

Oct 20, 2021 Archangel Nzangaya 0 &

There is a fight going on between Malawi's two reputable financial service providers, National Bank of Malawi and the Standard Bank Malawi. The two banks have dragged each other into a fighting zone through their… ...

Mother’s Day: Ecobank elevates women led businesses

Oct 14, 2021 Malawi24 Reporter 0 &

As part of appreciating mothers who bank with Ecobank during this mother’ s day week, Ecobank has bought shopping vouchers from women led businesses under its Ellevate program and the vouchers will be randomly given… ...

It’s all about you – Ecobank assures customers during Customer Service Week

Oct 08, 2021 Malawi24 Reporter 0 &

Ecobank Malawi this week participated in Global Customer Service week where the bank celebrated and expressed appreciation to its customers for entrusting Ecobank with their banking and financial service needs. The Global Customer Service Week… ...

Three accused of stealing K1 billion from NBS Bank

Sep 27, 2021 Malawi24 Reporter 0 &

A businessperson and two former NBS Bank officers are being accused of stealing over K1 billion from the bank. The three appeared before High Court in Blantyre this morning where the Directorate of Public Prosecutions… ...

RBM urges Banks to deliver inclusive financial services

Sep 17, 2021 Guest Writer 0 &

By Kenneth C. Mkandawire Reserve Bank of Malawi (RBM) has encouraged commercial banks to provide services that promote financial inclusion. Deputy Governor (DG) of RBM, Dr. Grant Kabango, made the remarks at Bingu International Convention… ...

Cartel forcing Admarc to borrow from banks – Chiphiko

Aug 19, 2021 Russell Kondowe 1 &

Agricultural Development and Marketing Corporation (Admarc) General Manager Rhino Chiphiko says there is a cartel involving officials from various ministries and banks as well as some individuals that benefits when Admarc borrows money from local… ...