The Reserve Bank of Malawi (RBM) host various credit awareness programs in an attempt to raise awareness on effective credit management. Dubbed Credit Awareness Week, the awareness campaign is happening this week.

A statement by the bank has outlined the importance of understating credit terms and conditions such as interest rate, repayment period, short term or long term loan and consequences of default before signing a credit agreement between a lending institution and a borrower.

During the week, the bank will also share on merits of accessing and borrowing money from licensed institutions including banks, microfinance institutions and savings and credit cooperatives.