Email a copy of 'Auditor supports MP Dzonzi’s bank Interest rate cap Bill: Could give back billions to borrowers' to a friend
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Email a copy of 'Auditor supports MP Dzonzi’s bank Interest rate cap Bill: Could give back billions to borrowers' to a friend
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Do these MPigs have time to do research before making these proposals? Several reviews have been madr in countries that tried to implement this…most of them retired to the original system.It has failed to work..
Our Banks are the loan sharks indeed & have been stealing from Malawians for so long SKC talk about it in your next rally kuti a DPP atengere & akakana implement this bill next year kuti tidzamve kukoma tonse sweat kunong’a kunong’a.
I FULLY SUPPORT THIS MOTION
Well done Mr Dzodzi, you are a blessing to this nation. We support the bill and pray that God should guide and protect you.
This is such a laughably bad idea. As a banker all I’ll do is simply stop lending and put those funds into alternative assets like real estate, foreign exchange etc. Ask the Kenyans; they no longer borrow from banks but from loan sharks (katapila). Only big companies in Kenya can access bank loans.
Really????? What a bunch of idiots trying to prescribe to the market. Just think back how the late idiot Mutharika tried to do the same with tobacco prices and what a dismal disaster that was. I really can’t stop laughing at these idiots thinking they are going to force the banks to lend money to risky business without the risk being priced in. Malawians, you were born to suffer and with such idiots in parliament you will suffer.
A case of a failed nation. In countries where interest capping was introduced, it had a blessing of sound economic principles. In a liberal market like ours it is not true that a policy will regulate marketing forces of demand and supply i.e it is not automatic that there will be demand for loans due to low interest rates, remember lending is a process ,examples issues of collateral, affordability to repay etc have to be followed and these may make others fail to access loans. Along the same line, it is not true that depositors especially those who understand mathematics… Read more »
So you quoted a banker from Standard Bank to provide a counter argument? He is benefiting from the system he sees no problem at all.
Whatever happened in Kenya or whereever is non of our business. Banks here are looting us. Imagine profits of billions in 6 months? Standard bank busy selling people’s houses to its members of staff at 3 % interest. I agree with this motion and let it be implemented . Let the banks reimburse. Stop stealing people’s money in a moving forward.
Standard has brought a lot of suffering to its clients
My humble contribution is that banks should also be restrained to deduct any charges from customers accounts unless the charge is in respect of forex transactions.
This is the area where banks steal their customers accounts.