Banks plunge into fresh crisis

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Ubiquity of mobile money whilst growing discomfort with cash queues will see more customers sign up for mobile financial services.

Nyasha Chingono/Tinashe Kairiza

THE Reserve Bank of Zimbabwe (RBZ) shot down an urgent request by commercial banks to raise interest rates and transaction charges at a crisis meeting held in Harare last week, arguing the move would trigger inflationary pressures, the Zimbabwe Independent can report.

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