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*Banks Are Sabotaging The Economy By Not Lending Money: RBZ* *Follow Pindula on WhatsApp for daily new updates* https://whatsapp.com/channel/0029Va84dngJP21B2nWeyM3v?hz The Reserve Bank of Zimbabwe (RBZ) has complained that banks are happy not lending money. Instead, the banks are depositing the money with the central bank at no interest at all. Speaking at the ZimTrade-Banks breakfast seminar, RBZ principal analyst for financial markets, Tapiwa Furusa said, > We have got a challenge and this challenge I will have to say it whilst all the banks are here. We have got a challenge with our banks. Whilst the Reserve Bank is doing all these things (availing funding facilities), you know what these banks are doing? When you deposit your money into your accounts with them, they take that money, come and deposit at the central bank and at the central bank we don’t give them any interest. It’s zero interest, but they are happy to maintain it there. > …I want to say it whilst they are here and also you are here so that you know that we are against what they are doing. We want them to promote production. More: NewsDay ---------- Latest itel S24 available on Pindula: 128GB storage $119 USD WhatsApp +263783450793 ---------- itel A50 now available on Pindula at $84 64GB storage, 2GB RAM. _ideal for light usage_ _If you found this article useful_ *Please support Pindula by forwarding to friends and groups*
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