Finance Minister Felix Mutati has directed the Bank of Zambia to reopen Intermarket Bank as soon as possible.
The Bank of Zambia late last year took over Intermarket Bank for breach the Financial Regulations Act.
And Mr. Mutati has urged financial and lending institutions to make financial services cheap and affordable to the common man.
Speaking during the launch of the 2017 financial literacy week in Lusaka today, Mr. Mutati said affordable financial services to the ordinary Zambian will help in the country’s economic development.
And speaking at the same event, Bank of Zambia Governor, Denny Kalyalya said financial inclusion and savings are key to economic development and therefore should be encouraged by all stakeholders in the sector.
Meanwhile Bankers Association of Zambia Chairperson Charles Mudiwa has called on Zambians to adopt the culture of saving.
He says a rise in saving ratios is likely to impact positively on the lending rates.
Mr Mudiwa has since commended the ministry of general education for the role it’s playing in educating young people on financial literacy.