THE value of mobile and internet-based transactions rose by 44,61 percent in June from the previous month as the wave of electronic payments continue gathering momentum. The mobile and internet transactions rose to
Over the past few years, the growing use of mobile devices in the country has opened the door for advanced financial products with consumers now able to access financial services at any time even in the previously unbanked remote areas.
The value of transactions processed through RTGS system in
The total value of card-based transactions increased by 21,04 percent to
Annual growth in broad money increased to 12,65 in
On a monthly basis, broad money, however, declined by 0,05 percent. The monthly decline in broad money was underpinned by outflows of
Offsetting these declines were inflows amounting to
"Reflecting this, Treasury Bills holdings by commercial and merchant banks increased by 246,64 percent between
Credit to private sector continued to be driven by loans and advances, which were partly sustained by offshore lines of credit, as local sources of liquidity remain under strain.
Lending to the private sector by banks was almost flat at
The distribution industry and household borrowers received 18,14 percent and 18,1 percent share of the cumulative loans and advances, respectively.
"The loans and advances were mainly utilised to meet short-term working capital requirements, restocking and raw material procurement, as well as to finance consumer durables and other consumption related expenses," said the central bank.
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