Banks to roll out incentives for depositors
Senior Reporter
The Reserve Bank of Zimbabwe and the banking sector are coming up with the nuts and bolts of interest payments on demand deposits to encourage people to deposit money in banks, rather than bury it under their pillows, RBZ Governor Dr John Mangudya told a Parliamentary committee this week.
Dr Mangudya told the Parliament’s portfolio committee on Finance, Budget and Economic Development that RBZ had finalised consultations with the Bankers Association of Zimbabwe and would soon be able to make the required announcement.
The committee, chaired by Buhera Central MP Dr Mathew Nyashanu (ZANU PF), wanted to know what the Reserve Bank was doing to compel businesses to deposit takings in banks instead of keeping it under their pillows.
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