Zimbabwe’s central bank orders banks to pay interest to depositors
Depositors are used to getting charged for services such as withdrawals and other charges without getting any interest for keeping their money in the bank
19 May 2021 - 18:11
Zimbabwe’s central bank says it will compel banks to enforce a law that makes it mandatory for financial institutions to pay interest on bank deposits.
The Reserve Bank of Zimbabwe governor, John Mangudya, said he had already held talks with the country’s banks and there was “general agreement within the financial services sector on the need to pay interests on deposits.”..
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