By ANDREW MUKOMALIVINGSTONE members of ONO and Comsave, the two village banking institutions which were closed for alleged financial irregularities, have requested the Bank of Zambia (BoZ) and other institutions to state their position on other credit associations that are still operating.The members said the BoZ, Bankers Association of Zambia (BAZ) and Drug Enforcement Commission (DEC) should quickly advise on the way forward because other institutions had continued with Village Banking concept along the same lines.In July this year, the DEC seized accounts for COMSAVE Credit Union as well as ONO Savings and Credit Association, (OSCA) for violating the Banking and Financial Services Act.But since the exercise took place, the authorities had not been able to state their position leaving the affected members complaining.Some members told the Daily Nation that they had been seeking the intervention of President Edgar Lungu through the Livingstone District Commissioner and PF Provincial chairperson Lawrence Evans but to no avail.The […]
CLOSED VILLAGE BANKING MEMBERS CRY FOR THEIR MONEY
