Banks go North

Following the liberation of the entirety of the Northern Province, banks have shown a considerable interest in resuming normal banking operations in the Province.

This situation has resulted in many licensed commercial banks and licensed specialized banks seeking approval to open new branches and other banking outlets in the Northern Province. The Central Bank has over the past three weeks, granted approval for 67 new banking service outlets in the Northern Province, which is the largest number of approvals given during a comparable period. This trend of banking expansion in the Northern Province is expected to grow with the resettlement of the displaced persons.

The Central Bank is also formulating new micro-finance programs to cater to the credit needs in the Province and to unleash the potential for development, and thereby facilitate faster development in the Northern Province.