News / National
Mudenda slams banks' 'colonial mentality'
07 Feb 2018 at 07:12hrs | Views
Speaker of the National Assembly, Advocate Jacob Mudenda, yesterday slammed financial institutions for their stringent requirements when opening bank accounts, saying the conditions were not commensurate with President Mnangagwa's thrust to open the country for business.
Adv Mudenda described the tough conditions demanded by financial institutions as "colonial" and a contradiction to Government policy and principle on ease of doing business.
He was responding to concerns from Members of Parliament who were complaining that they were struggling to open bank accounts to allow Parliament to deposit money for Constituency Development Fund. The development has seen the bulk of the fund lying idle.
Adv Mudenda described the tough conditions demanded by financial institutions as "colonial" and a contradiction to Government policy and principle on ease of doing business.
He was responding to concerns from Members of Parliament who were complaining that they were struggling to open bank accounts to allow Parliament to deposit money for Constituency Development Fund. The development has seen the bulk of the fund lying idle.
Source - herald
