Tonse Government abandons DPP initiative on Money Transfer Charges as banks and mobile operators go back to default exorbitant settings

Before the election when Malawi was promoting wireless transfers, DPP regime did the only good thing to Malawians by instructing Reserve Bank to issue a three months moratorium on interest which has expired, with no directive from government.

Meanwhile, mobile Network Operators, commercial banks and Microfinance institutions in the country have re-introduced user fees and charges on person to person transfers on the same network, following the expiry of a three-month moratorium on interest and principal repayments issued by the Reserve Bank of Malawi.

In April, the finance regulator issued the moratorium with an aim of cushioning Malawians from the economic downturn caused by the Coronavirus and discouraging the use of hard cash as a Covid-19 preventive measure.

Consumer rights body through its Executive Director John Kapito suggests the Reserve Bank of Malawi to again look into the matter.

Social and Political commentator Wonderful Mkhutche has also urged government to take time and look into the good things introduced by DPP and maintain them so that Malawians should not be tempted to make regime comparisons.

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