Gov’t, bankers discuss financial sector challenges

The Ministry of Finance yesterday convened a meeting with the banking financial institutions to discuss challenges the industry is facing. The meeting held at the Ministry head office in Kigali, attracted heads of commercial banks, the Central Bank Governor, heads of Micro-Finance Institutions, officials from the Ministry of Trade and Industry. While addressing the gathering, James Musoni, the Minister of Finance and Economic Planning said that they intend to discuss issues on economy and update each other on the current status of the banking industry. In a closed session, participants are expected to put much emphasis on the current problem of liquidity in banks. Stakeholders are likely to come up with measures of redeeming the banking sector which has slowed its lending to the private sector. “I know there has been a problem of liquidity in banks, we need to have measures in place to ensure that the main task of financing is sustained,” he said. Musoni hailed banks for their continued lending to the private sector regardless of low liquidity. He also said that members will exchanges views on some about mortgage financing and mobilisation of savings through the banking sector to ensure money outside this sector is captured. Ends

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Gov’t, bankers discuss financial sector challenges