Zimbabwe: Develop Collateral Substitutes for Farmers, RBZ Urges Banks

Brenda Ziga: Herald Reporter The Reserve Bank of Zimbabwe has urged all banks to develop collateral substitutes to assist smallholder farmers access loans. Speaking at the Private Sector-Financial Institutions Speed Dating Expo for the Livelihoods and Food Security programme in Harare yesterday, RBZ principal bank examiner Ms Audrey Hove said small-holder farmers need to access…

Swift Transportation CEO Restructures Family Debts

Swift Transportation Co. Chief Executive Jerry Moyes has restructured family financial obligations to reduce his exposure if the trucking company’s share price falls. The adjustments are meant to bring Mr. Moyes into compliance with limits set by Swift’s board of directors on the use of his family’s controlling stake in the company for borrowing, according…

Fraud in $4 trillion trade finance turns banks to digital ledger

Singapore/Hong Kong: The risk posed by fraud in the $4 trillion trade-financing industry has prompted banks to start exploring distributed-ledger technology like the one that underpins bitcoin. Standard Chartered Plc, which lost almost $200 million from a fraud at China’s Qingdao port two years ago, has teamed up with DBS Group Holdings Ltd to develop…

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