Reserve Bank of Malawi (RBM) has called upon banking institutions in the country to take their services to rural areas so that even the rural masses could benefit from their services.
Director of Bank Supervision for RBM, Eldin Mlelemba made the call in Mzuzu on Friday when he presided over the official opening of Nedbank Mzuzu Branch.
Mlelemba said most rural Malawians find it costly to travel from their respective villages just to access banking services in towns and cities.
“A recent research has shown that 80 per cent of Malawian adults do not use banks in saving their cash and most of these people are from rural areas.
“If banks could take a step of establishing themselves in these areas as well, then we will be singing a new song as most people will begin to access them as well as appreciate the importance of keeping their money with banks,” he said.
Mlelemba, who was guest of honour at the function, went ahead to assure Malawians that the central bank was coming up with new policies that will ensure that money lending institutions in the country make terms that would enable more people have access to loans because currently, it is only financially empowered people that need bank services.
Acting Managing Director for Nedbank Malawi, Rachael Kawawa said the bank was working tirelessly to ensure that customers are provided with satisfying services including a provision for people with special needs.
“One of the unique services one can find with us is that you can never find elderly people and those with disabilities waiting on long queues because we give them special services.
“As we plan to expand to other parts of the region, our target is to ensure that every person gets access to our services without limitations,” Kawawa said.
Kawawa added that the positive response that the bank has received since it initially opened its doors in Mzuzu City March this year (2013) is an encouragement for the commercial entity to expand to other parts of the region. –Malawi News Agency