By Mabuchi Chunga
The Reserve Bank of Malawi (RBM) says it is engaging various stakeholders to re-establish agreements pertaining to services that were implemented to cushion the effects of Covid-19 pandemic.
With the onset of the pandemic towards the beginning of this year RBM signed a memorandum of understandings (MoUs) with various mobile network operators (MNOs) and monetary institutions which allowed measures to be set up to cushion the negative impacts of the pandemic on the economy.
RBM Spokesperson Dr. Onelie Nkuna said following the expiry of the MoUs in the month of July, they are currently engaging the institutions to map a way forward.
“Currently the Reserve Bank is engaging these MNOs so as to renew the MoU,” said Dr. Nkuna.
She pointed out that the bank hopes the agreement will be reached sooner than later for the benefit of the public.
“We are hoping that the process will come to a completion soon,” said Nkuna.
The Reserve Bank in April introduced measures that were aimed at reducing the financial strain that would come in light of the pandemic, among the measures was a suspension of loans for a period of three months and a reduction on commission for electronic cash transfer fees.