Government Gazettes Statutory Instrument 65A, Ecocash And Bank Balances To Recieve Interest

Government Gazettes Statutory Instrument 65A, Ecocash And Bank Balances To Recieve Interest

By Garikai Dzoma|2020-03-13T05:10:28+02:00March 13th, 2020|0 Comments

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The government has gazetted Statutory Instrument 65A which will see monies held in mobile wallets, such as Ecocash, and savings accounts receiving interests. This used to be the norm before the 2008 crisis but these days banks actuall eat into your savings as they charge punitive bank levies.

Minister of Finance gazzetes SI 65A of 2020 to compel banks to pay interest on customer balances in Savings/ Demand Deposits and Mobile Money Wallets. Interest shall be calculated at ninety and fifty percent of the current Treasury Bill rate respectively! pic.twitter.com/forVERaMZB

— ZimBollar Research Institute (@ZimBollar) March 13, 2020

The Statutory Instrument

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