Court Fines 6 for Damaging Bank Notes
The Mangochi Senior Resident Magistrate's Court on Monday convicted and ordered five women and a male to pay fines between K100, 000.00 to K350, 000.00 for damaging and soiling Malawi Kwacha banknotes which is contrary to section 54(2)(c) of the Reserve Bank of Malawi Act.
Microfinance Institutions Extend Moratorium
Reserve Bank of Malawi has agreed with banks and microfinance institutions to extend moratorium on payment of interests and principle loans in response to COVID-19 pandemic.
3% Malawians Access Formal Credit – RBM
The Reserve Bank of Malawi (RBM) says only 3% Malawians access credit from formal financial institutions.
