BoB audit uncovers fee violations by banks

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Four audit firms engaged by the Bank of Botswana (BoB) have found ‘several violations’ in which local banks charged clients fees higher than the ones they officially published, Mmegi Business has learnt.

The revelations come as the BoB conditionally lifts a two-year moratorium on increases in bank charges and fees.

The central bank placed the moratorium in January 2014 citing long running and widely held sentiments that rising bank charges and fees were not only an impediment to banking access, but also a disincentive to savings.

Editor's Comment
Women unite for progress

It underscores the indispensable role women play in our society, particularly in building strong households and nurturing families. The recognition of women as the bedrock of our communities is not just a sentiment; it's a call to action for all women to stand together and support each other in their endeavours.The society's aim to instil essential principles and knowledge for national development is crucial. By providing a platform for...

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