Printer Friendly

-Consumers shunning banking services in Zimbabwe.

Global Banking News-June 6, 2011--Consumers shunning banking services in Zimbabwe(C)2011 ENPublishing - http://www.enpublishing.co.uk

Global Banking News - 06 June 2011

Consumers in Zimbabwe are shunning banking services, according to a study by Kingdom Financial Holdings Limited (KFHL) Group.

Studies show that consumers do not trust banks, and banking transactions are happening more in the informal sector than in the formal sector. It is believed that the biggest deterrent to people conducting banking transactions is the fact that opening a banking account is very cumbersome, involving a lot of paper work.

Also, in many cases banks are not ready to provide services because of the high costs involved in traditional banking services.

[Editorial queries for this story should be sent to gbn@enpublishing.co.uk]

((Distributed via M2 Communications - http://www.m2.com))
COPYRIGHT 2011 Normans Media Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2011 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Global Banking News (GBN)
Geographic Code:6ZIMB
Date:Jun 6, 2011
Words:136
Previous Article:-American banks facing ratings downgrade from Moody's.
Next Article:-CGAP study says more people adopting mobile banking services in emerging nations.

Terms of use | Privacy policy | Copyright © 2019 Farlex, Inc. | Feedback | For webmasters