Rwanda | Rusizi: Bank customers warned about defaulting

National Bank of Rwanda representative in Rusizi Mirindi John

Customers of different financial institutions were recently warned against defaulting.

“Initially, banks are financial institutions designed to help everyone develop. Not paying back loans denies others the chance to utilize the money for beneficial reasons. Defaulting also ruins the trust between banks and their customers,” said the permanent secretary of the Ministry of Trade and Industry, Emmanuel Hategekimana.

Hategekimana who emphasized that defaulting also slows down the country’s economic growth made the statements on international customers’ day that was held in Rusizi recently.

Hategekimana said banks are partners with their customers ,and for any partnership to grow, both partners should play their right roles.

Banks highlighted that recovering loaned out money is the hardest challenge they face.”Not all customers are defaulters though time and again even trusted customers end up not paying back loan money. Others pay when the initial recovery time is overdue, causing banks strenuous losses,” commented Johnson Mirindi, Bank Manager, Bank of Kigali, Rusizi Branch.

http://twizigamire.com/2012/03/rwanda-rusizi-bank-customers-warned-defaulting/