Education is key for Malawi’s financial institutions

Malawi adopted focus on financial literacy initiatives throughout 2014

reserve-bank-malawi
Reserve Bank of Malawi

The Reserve Bank of Malawi has put increasing emphasis on implementing financial literacy and consumer protection initiatives, according to its supervisory report for 2014, published today (September 18).

The bank revealed that its efforts were designed to "improve the way financial institutions conduct themselves in the market and to better protect consumers." One major cause of complaints, it said, was lack of financial knowledge.

The majority of initiatives have been aimed at the younger

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