The Bankers Association of Malawi (Bam) has spoken for commercial banks, expressing pessimism by warning that the economy could suffer if the bill was passed.

The above was forecasted by Bam President Paul Guta who was speaking to a joint parliamentary committee that is assigned to scrutinise the proposed capping bill, where he stated that if the bill was passed, banks would fail to mobilize deposits as the cost of that operation would be higher than prices of the loan.

As that prediction has been outlined, Guta called for “time to have another thought before the bill is passed”.TM