Clarification

In our Wednesday issue n° 1850 we mistakenly reported that in order to restore liquidity in the banking system, government through the National Bank of Rwanda (BNR) will make deposits with commercial banks at an interest rate of less than two percent for a period of five years.

In our Wednesday issue n° 1850 we mistakenly reported that in order to restore liquidity in the banking system, government through the National Bank of Rwanda (BNR) will make deposits with commercial banks at an interest rate of less than two percent for a period of five years.

The National Bank has since then informed us that government deposit to commercial banks will be remunerated at an average deposit rate of the last 12 months plus a premium of 1% to take into account the maturity of five years. The bank says that today, this rate should be estimated at 9.5 percent.

Editor

 

Have Your SayLeave a comment