{"id":10470,"date":"2021-11-30T18:38:59","date_gmt":"2021-11-30T18:38:59","guid":{"rendered":"https:\/\/www.africa-press.net\/malawi\/all-news\/banks-upbeat-on-lower-rates"},"modified":"2021-11-30T19:14:35","modified_gmt":"2021-11-30T19:14:35","slug":"banks-upbeat-on-lower-rates","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/malawi\/all-news\/banks-upbeat-on-lower-rates","title":{"rendered":"Banks upbeat on lower rates"},"content":{"rendered":"

Africa-Press – Malawi. <\/strong><\/span>Bankers Association of Malawi (Bam), an umbrella body for commercial banks, has called for concerted efforts towards ensuring a lower interest rate regime in the country. Newly elected Bam President McFussy Kawawa said this on Saturday evening at the bankers\u2019 annual dinner in Blantyre.<\/p>\n

He was responding to a call from Malawi University of Science and Technology Vice Chancellor Address Malata, who graced the occasion and lamented the elevated cost of borrowing in the country.<\/p>\n

In her address, Malata said broadening access to finance by lowering interest rates would spur economic activity in the country and propel growth. She added that interest rates reduction would not only benefit consumers but the banks too, which would widen their lending base.<\/p>\n

\u201cIf the interest rates can go down, many people will borrow and use that money to develop the country. That is why I pleaded with banks to look at this matter with a sober mind because it is not about individuals but this country,\u201d she said.<\/p>\n

In his response, Kawawa said creating an environment which would facilitate lowering of interest rates would require concerted efforts. While underscoring the essence of a lower interest rate regime to commercial banks, he said there were still many factors that would feed into a discussion to cut the rates.<\/p>\n

\u201cFor example, how one can realise security for a loan and how long it takes has got to factor into the pricing and if we do not deal with that, it will still remain there,\u201d he said.<\/p>\n

Earlier this year, the United Nations Economic Commission for Africa said local banks were among the most profitable financial institutions in the region owing to high net interest margins.<\/p>\n

At around 5 percent, deposit rates that banks were giving to customers were too low compared to lending rates which averaged 23 percent\u2014 over two times higher than headline inflation which now stands at 9.8 percent. The yawning spread has also propelled debate lately, with other circles recommending interest rate capping as one of the possible remedies.<\/p>\n

Also, addressing Economics Association of Malawi annual conference in Mangochi District recently, Vice President Saulos Chilima urged the commercial banks to work towards lowering their interest rates, a call he rated as non-negotiable.<\/p>\n

He proposed capping the interest spread, saying if commercial banks were to raise their lending rates, they must pass-through the same to depositors. Justin Mkweu is a fast growing reporter who currently works with Times Group on the business desk. He is however flexible as he also writes about current affairs and national issues.<\/p>\n

For More News And Analysis About Malawi<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Malawi. Bankers Association of Malawi (Bam), an umbrella body for commercial banks, has called for concerted efforts towards ensuring a lower interest rate regime in the country. Newly elected Bam President McFussy Kawawa said this on Saturday evening at the bankers\u2019 annual dinner in Blantyre. He was responding to a call from Malawi […]<\/p>\n","protected":false},"author":84,"featured_media":10469,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8],"tags":[233,371,3086,234,3493,240],"class_list":["post-10470","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","tag-africa-press","tag-africa-press-malawi","tag-bankers-association-of-malawi","tag-malawi","tag-mcfussy-kawawa","tag-saulos-chilima"],"yoast_head":"\nBanks upbeat on lower rates - Malawi<\/title>\n<meta name=\"description\" content=\"Bankers Association of Malawi (Bam), an umbrella body for commercial banks, has called for concerted efforts towards ens ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/malawi\/all-news\/banks-upbeat-on-lower-rates\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Banks upbeat on lower rates\" \/>\n<meta property=\"og:description\" content=\"Bankers Association of Malawi (Bam), an umbrella body for commercial banks, has called for concerted efforts towards ens ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/malawi\/all-news\/banks-upbeat-on-lower-rates\" \/>\n<meta property=\"og:site_name\" content=\"Malawi\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2021-11-30T18:38:59+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-11-30T19:14:35+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2021\/11\/img-61a677ff4c721.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1122\" \/>\n\t<meta property=\"og:image:height\" content=\"938\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/banks-upbeat-on-lower-rates#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/banks-upbeat-on-lower-rates\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Banks upbeat on lower rates\",\"datePublished\":\"2021-11-30T18:38:59+00:00\",\"dateModified\":\"2021-11-30T19:14:35+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/banks-upbeat-on-lower-rates\"},\"wordCount\":438,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/banks-upbeat-on-lower-rates#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2021\/11\/img-61a677ff4c721.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Malawi\",\"Bankers Association of Malawi\",\"Malawi\",\"McFussy Kawawa\",\"Saulos Chilima\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/malawi\/all-news\/banks-upbeat-on-lower-rates#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/banks-upbeat-on-lower-rates\",\"url\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/banks-upbeat-on-lower-rates\",\"name\":\"Banks upbeat on lower rates - Malawi\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/banks-upbeat-on-lower-rates#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/banks-upbeat-on-lower-rates#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2021\/11\/img-61a677ff4c721.jpg\",\"datePublished\":\"2021-11-30T18:38:59+00:00\",\"dateModified\":\"2021-11-30T19:14:35+00:00\",\"author\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"description\":\"Bankers Association of Malawi (Bam), an umbrella body for commercial banks, has called for concerted efforts towards ens ...\",\"breadcrumb\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/banks-upbeat-on-lower-rates#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.africa-press.net\/malawi\/all-news\/banks-upbeat-on-lower-rates\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/banks-upbeat-on-lower-rates#primaryimage\",\"url\":\"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2021\/11\/img-61a677ff4c721.jpg\",\"contentUrl\":\"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2021\/11\/img-61a677ff4c721.jpg\",\"width\":1122,\"height\":938,\"caption\":\"Banks upbeat on lower rates\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/banks-upbeat-on-lower-rates#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.africa-press.net\/malawi\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Banks upbeat on lower rates\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/#website\",\"url\":\"https:\/\/www.africa-press.net\/malawi\/\",\"name\":\"Malawi\",\"description\":\"Just another Africa News Agency Sites site\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.africa-press.net\/malawi\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\",\"name\":\"cfeditoren\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g\",\"caption\":\"cfeditoren\"}}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Banks upbeat on lower rates - Malawi","description":"Bankers Association of Malawi (Bam), an umbrella body for commercial banks, has called for concerted efforts towards ens ...","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.africa-press.net\/malawi\/all-news\/banks-upbeat-on-lower-rates","og_locale":"en_US","og_type":"article","og_title":"Banks upbeat on lower rates","og_description":"Bankers Association of Malawi (Bam), an umbrella body for commercial banks, has called for concerted efforts towards ens ...","og_url":"https:\/\/www.africa-press.net\/malawi\/all-news\/banks-upbeat-on-lower-rates","og_site_name":"Malawi","article_publisher":"https:\/\/www.facebook.com\/AfricaPressTunisiaa","article_published_time":"2021-11-30T18:38:59+00:00","article_modified_time":"2021-11-30T19:14:35+00:00","og_image":[{"width":1122,"height":938,"url":"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2021\/11\/img-61a677ff4c721.jpg","type":"image\/jpeg"}],"author":"cfeditoren","twitter_card":"summary_large_image","twitter_misc":{"Written by":"cfeditoren","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.africa-press.net\/malawi\/all-news\/banks-upbeat-on-lower-rates#article","isPartOf":{"@id":"https:\/\/www.africa-press.net\/malawi\/all-news\/banks-upbeat-on-lower-rates"},"author":{"name":"cfeditoren","@id":"https:\/\/www.africa-press.net\/malawi\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"headline":"Banks upbeat on lower rates","datePublished":"2021-11-30T18:38:59+00:00","dateModified":"2021-11-30T19:14:35+00:00","mainEntityOfPage":{"@id":"https:\/\/www.africa-press.net\/malawi\/all-news\/banks-upbeat-on-lower-rates"},"wordCount":438,"commentCount":0,"image":{"@id":"https:\/\/www.africa-press.net\/malawi\/all-news\/banks-upbeat-on-lower-rates#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2021\/11\/img-61a677ff4c721.jpg","keywords":["Africa Press","Africa Press-Malawi","Bankers Association of Malawi","Malawi","McFussy Kawawa","Saulos Chilima"],"articleSection":["all news","economy","homepage-english"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.africa-press.net\/malawi\/all-news\/banks-upbeat-on-lower-rates#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.africa-press.net\/malawi\/all-news\/banks-upbeat-on-lower-rates","url":"https:\/\/www.africa-press.net\/malawi\/all-news\/banks-upbeat-on-lower-rates","name":"Banks upbeat on lower rates - Malawi","isPartOf":{"@id":"https:\/\/www.africa-press.net\/malawi\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.africa-press.net\/malawi\/all-news\/banks-upbeat-on-lower-rates#primaryimage"},"image":{"@id":"https:\/\/www.africa-press.net\/malawi\/all-news\/banks-upbeat-on-lower-rates#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2021\/11\/img-61a677ff4c721.jpg","datePublished":"2021-11-30T18:38:59+00:00","dateModified":"2021-11-30T19:14:35+00:00","author":{"@id":"https:\/\/www.africa-press.net\/malawi\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"description":"Bankers Association of Malawi (Bam), an umbrella body for commercial banks, has called for concerted efforts towards ens ...","breadcrumb":{"@id":"https:\/\/www.africa-press.net\/malawi\/all-news\/banks-upbeat-on-lower-rates#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.africa-press.net\/malawi\/all-news\/banks-upbeat-on-lower-rates"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/malawi\/all-news\/banks-upbeat-on-lower-rates#primaryimage","url":"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2021\/11\/img-61a677ff4c721.jpg","contentUrl":"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2021\/11\/img-61a677ff4c721.jpg","width":1122,"height":938,"caption":"Banks upbeat on lower rates"},{"@type":"BreadcrumbList","@id":"https:\/\/www.africa-press.net\/malawi\/all-news\/banks-upbeat-on-lower-rates#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.africa-press.net\/malawi\/"},{"@type":"ListItem","position":2,"name":"Banks upbeat on lower rates"}]},{"@type":"WebSite","@id":"https:\/\/www.africa-press.net\/malawi\/#website","url":"https:\/\/www.africa-press.net\/malawi\/","name":"Malawi","description":"Just another Africa News Agency Sites site","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.africa-press.net\/malawi\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.africa-press.net\/malawi\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb","name":"cfeditoren","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/malawi\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g","caption":"cfeditoren"}}]}},"_links":{"self":[{"href":"https:\/\/www.africa-press.net\/malawi\/wp-json\/wp\/v2\/posts\/10470","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.africa-press.net\/malawi\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.africa-press.net\/malawi\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/malawi\/wp-json\/wp\/v2\/users\/84"}],"replies":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/malawi\/wp-json\/wp\/v2\/comments?post=10470"}],"version-history":[{"count":0,"href":"https:\/\/www.africa-press.net\/malawi\/wp-json\/wp\/v2\/posts\/10470\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/malawi\/wp-json\/wp\/v2\/media\/10469"}],"wp:attachment":[{"href":"https:\/\/www.africa-press.net\/malawi\/wp-json\/wp\/v2\/media?parent=10470"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.africa-press.net\/malawi\/wp-json\/wp\/v2\/categories?post=10470"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.africa-press.net\/malawi\/wp-json\/wp\/v2\/tags?post=10470"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}