Malawi Banks suspends interest and principal payments

Malawi Government has been taking several measures to stem the spread of the pandemic and to reduce the economic burden.

In lieu with the same, Commercial banks of Malawi have suspended interest and principal payments for bank loans for the next three months. It has been announced per the directives by President Professor Mutharika to reduce economic burden on the citizens.

Reserve Bank of Malawi (RBM) Governor Dalitso Kabambe and BAM Second Vice President Zandile Shaba have announced the new measures in Lilongwe.

Bankers Association of Malawi (BAM) have also decided to all fees and charges on internet banking mobile payments and other related services by 40%.

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