Transparent Pricing Initiative Launch: Remarks by the Governor of the Bank of Zambia
It is imperative that all institutions provide the price of their loans in terms of the Annual Percentage Rate rather than a monthly percentage. In this way, transparency is enhanced and consumers would have a clear picture of precisely how much they need to borrow relative to their income levels. This would result in responsible lending and a more competitive and transparent microfinance industry.
Click here to read the Bank of Zambia remark