MONETARY authorities and banks have reached an understanding that allows the central bank to waive a requirement demanding them to pay interest on call and demand deposits.
However, the banks are still required to pay interest on savings accounts and fixed term deposits. Reserve Bank of Zimbabwe (RBZ) governor, John Mangudya, said the apex bank had held discussions and reached an agreement with the Bankers Association of Zimbabwe (BAZ) on compliance with their statutory obligations on sureties.
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Reserve Bank of Zimbabwe governor, John Mangudya
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