Saturday, July 2, 2022
  • About Us
  • ImagiNATION
  • Rate Card
  • Contact Us
The Nation Online
Advertisement
  • Home
  • News
  • Politics
  • Business
  • Entertainment
  • Life & Style
    • Every Woman
      • Soul
      • Family
    • Religion
    • Feature
  • Society
  • Columns
  • Sports
  • Chichewa
  • Enation
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Entertainment
  • Life & Style
    • Every Woman
      • Soul
      • Family
    • Religion
    • Feature
  • Society
  • Columns
  • Sports
  • Chichewa
  • Enation
No Result
View All Result
No Result
View All Result
Home Business Business News

RBM hails FDH Bank’s financial inclusiveness

by Johnny Kasalika
28/05/2012
in Business News
2 min read
0
Share on FacebookShare on TwitterShare on WhatsAppShare on LinkedinLinkedinShare via Email

FDH Bank officially opened its branch in the lakeshore district of Mangochi on Friday with the Reserve Bank of Malawi (RBM) praising it for its speedy response to delivery of the financial inclusion charter launched last year.

 The financial inclusion charter declares the commitment of the country’s commercial banks to provide products and services specifically designed to reach the unbanked population.

A survey conducted by Finscope in 2008 indicated that a paltry 19 percent of the population in Malawi is banked in the formal banking platform, with 26 percent having access to other informal banking services, thereby leaving 55 percent of the population financially excluded.

RBM deputy governor responsible for supervision of financial services Dr Grant Kabango noted that the bank is fully committed to service customers by engaging its expansion strategy to service the rural people.

“I would like to encourage various players on the market not to relax in efforts to extend their outreach. In a highly competitive market, banks have challenges to compete on the quality of services,” he said.

Generally, he said the central bank is proud that the financial institutions in Malawi survived the global economic meltdown in 2008 with resilience largely because of the “stringent supervision provided by RBM and the impact of well-capitalised and managed financial institutions”.

On his part, FDH Bank managing director Jimmy Kayuni said the bank has launched an aggressive network expansion campaign with nine branches countrywide.

“The extension of our services to Mangochi is one way of achieving the financial inclusion initiative,” he said, adding that the bank understands the needs of their customers because its shareholders are local.

The bank’s board chairperson Dr Erick Sankhulani said after the opening of the Mangochi branch, the first point in the Eastern Region, their next destination is Zomba.

He said the bank will soon introduce mobile vans to reach out to all the people with their banking services.

The launch was, among others, attended by FDH Financial Holdings Limited chief executive officer Thom Mpinganjira and other residents of the district.

FDH Bank is a subsidiary of FDH Financial Holdings Limited.

Previous Post

Collaborations: have Malawian artists benefited?

Next Post

Malawi’s timber cooperatives get injunction

Related Posts

Business News

Ecobank takes digital payment solution to shop owners

July 1, 2022
Business News

Consumers fault govt on gas price rise

July 1, 2022
Business News

 UK dangles k26bn  UK dangles k26bn

July 1, 2022
Next Post
The Nation Online Malawi’s timber cooperatives get injunction

Malawi’s timber cooperatives get injunction

Opinions and Columns

My Turn

Following spouse is no crime

July 1, 2022
Rise and Shine

Create your personal brand

June 30, 2022
Business Unpacked

We can do without some levies in fuel price

June 29, 2022
My Turn

US court threatens women’s rights

June 29, 2022

Malawi-Music.com Top10

Trending Stories

  • Entrance to one of the VP’s official residences in Blantyre: Mudi House

    New VP houses draw criticism

    0 shares
    Share 0 Tweet 0
  •  Malawi credit Status at risk

    0 shares
    Share 0 Tweet 0
  • Britain squeezes Zuneth Sattar

    0 shares
    Share 0 Tweet 0
  • 4 DPP MPs disown Nankhumwa injunction

    0 shares
    Share 0 Tweet 0
  • Ex-MPC boss sues for unfair dismissal

    0 shares
    Share 0 Tweet 0

  • Values
  • Our Philosophy
  • Editorial policy
  • Advertising Policy
  • Code of Conduct
  • Plagiarism disclaimer
  • Disclaimer
  • Privacy Policy
  • Terms of use

© 2022 Nation Publications Limited. All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Entertainment
  • Life & Style
    • Every Woman
      • Soul
      • Family
    • Religion
    • Feature
  • Society
  • Columns
  • Sports
  • Chichewa
  • Enation

© 2020 Nation Publications Limited. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.