Synthesizer
Platinum Member
- Feb 15, 2010
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Raisi Mugabe bado yuko sharp! Amezishambulia Benk za Zimbabwe kwamba zinawaibia wananchi kwa kutoa mikopo na kudai interest hadi 35%, wakati huohuo zikitoa interest ndogo sana kwa fedha za wananchi zilizoko benki. Amesema huko ni kuhujumu uchumi wa Zimbabwe.
Hata hapa kwetu Tanzania Benki zinatubia sana na hizi bank fees, charge za interest rate za mikopo. Jipu jingine Magufuli anahitaji kutumbua!!!!!
Mugabe accuses Zim banks of extortion
December 23 2015 at 09:30am
By Xinhua
Harare - Zimbabwean President Robert Mugabe yesterday slammed local banks for charging high interest rates, which, he said, stifled economic recovery.
Mugabe said what the banks were doing was akin to extortion and imposition of sanctions against depositors.
The banks have been charging interest rates as high as 35 percent per annum while paying comparatively very little interest on deposits, citing high cost of money from external markets for the exorbitant rates.
The banks recently reduced the interest rates by more than 10 percent after reaching an agreement with the central bank.
?The banks are still in the habit of charging interest rates well beyond the principal sum borrowed.
?We have said this must stop; it is extortion, extortion by our banks. If they can not do banking in the proper way, please they should stop it,? Mugabe said.
Mugabe, who was speaking at the burial of businessman and ruling Zanu-PF central committee member Aguy Georgias, said banks were worsening the already difficult economic situation by charging exorbitant rates.
?This economy faces many challenges brought mainly by sanctions but there is a way in which the banking sector has not made matters any easier. Banks seem to pass their own sanctions package against us including those who deposit with them,? he said.
The president said the high interest rates undermined economic recovery efforts through ?undermining the propensity to save by punishing borrowers?.
He hoped that banking sector reforms being implemented by the central bank would help to correct the situation and inject more liquidity into the capital-starved market.
The acceptance of the Chinese yuan into the world? s basket of reserve currencies should offer new possibilities for the country, Mugabe said.
His comments followed Finance Minister Patrick Chinamasa?s remarks this week that Zimbabwe was looking at expanding use of the Chinese currency after the central bank in 2014 added the yuan to a basket of foreign currencies being used that included the US dollar, British sterling and the rand.
Zimbabwe adopted the use of multiple currencies in 2009 after its currency had been rendered worthless.
Xinhua
Hata hapa kwetu Tanzania Benki zinatubia sana na hizi bank fees, charge za interest rate za mikopo. Jipu jingine Magufuli anahitaji kutumbua!!!!!
Mugabe accuses Zim banks of extortion
December 23 2015 at 09:30am
By Xinhua
Harare - Zimbabwean President Robert Mugabe yesterday slammed local banks for charging high interest rates, which, he said, stifled economic recovery.
Mugabe said what the banks were doing was akin to extortion and imposition of sanctions against depositors.
The banks have been charging interest rates as high as 35 percent per annum while paying comparatively very little interest on deposits, citing high cost of money from external markets for the exorbitant rates.
The banks recently reduced the interest rates by more than 10 percent after reaching an agreement with the central bank.
?The banks are still in the habit of charging interest rates well beyond the principal sum borrowed.
?We have said this must stop; it is extortion, extortion by our banks. If they can not do banking in the proper way, please they should stop it,? Mugabe said.
Mugabe, who was speaking at the burial of businessman and ruling Zanu-PF central committee member Aguy Georgias, said banks were worsening the already difficult economic situation by charging exorbitant rates.
?This economy faces many challenges brought mainly by sanctions but there is a way in which the banking sector has not made matters any easier. Banks seem to pass their own sanctions package against us including those who deposit with them,? he said.
The president said the high interest rates undermined economic recovery efforts through ?undermining the propensity to save by punishing borrowers?.
He hoped that banking sector reforms being implemented by the central bank would help to correct the situation and inject more liquidity into the capital-starved market.
The acceptance of the Chinese yuan into the world? s basket of reserve currencies should offer new possibilities for the country, Mugabe said.
His comments followed Finance Minister Patrick Chinamasa?s remarks this week that Zimbabwe was looking at expanding use of the Chinese currency after the central bank in 2014 added the yuan to a basket of foreign currencies being used that included the US dollar, British sterling and the rand.
Zimbabwe adopted the use of multiple currencies in 2009 after its currency had been rendered worthless.
Xinhua
