Articles tagged 'bank charges'

Banks brace for income knock 16 December 2016 HARARE - Local bankers say the Reserve Bank of Zimbabwe (RBZ)'s newly introduced withdrawal charges are anticipated to eat into income, with some pointing out financials were set to reflect the effect in the first half of 2017. Well placed bankers told the businessdaily that the new charges — ...
Waive charges, Mangudya tells struggling banks 21 November 2014 HARARE - Struggling banks must stop charging fees on depositors who are failing to access their funds, the Reserve Bank of Zimbabwe (RBZ) governor John Mangudya has said. He said the institutions should not charge “for services not rendered”. “When clients cannot access their money in the b...
Bank charges hike justifiable: Baz 16 March 2014 HARARE - Zimbabwean financial institutions insist that the recent hike in bank charges is justifiable to meet their operating costs. This comes as banks recently increased levies by at least 50 percent — following expiry of an agreement with the central bank barring them to — resulting in a de...
Parly raps bank charges hike 12 March 2014 HARARE - Parliament on Monday grilled bankers over increased bank charges following the expiry of an agreement putting a cap on interest rates and fees banks could levy. Legislators accused local financial institutions of pushing the majority of depositors out of the banking sector through exo...
RBZ, banks lower charges 1 February 2013 HARARE - The Reserve Bank of Zimbabwe (RBZ) yesterday signed a memorandum of understanding (MoU) with financial institutions, which sets out guidelines on bank charges and interest rates. The agreement is with effect from February 1 and shall endure for a period of one year, renewable by mutual c...