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