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.

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