Some of the Rwandan banks as well as merchants are being accused of setting their own rules against the Rwanda National bank, the settings sometimes lead to the inflation rate.
Rwanda National Bank (BNR) said it does not know the case of omission of five Rwandan coins. “If there are some of other banks which don’t use the currencies of five, it is their rules and are against the BNR rules.”
Rwanda national Bank has in its duties to control other banks procedures as well as keeping the Rwandan currency sovereignty over its value.
Those banks are accused of charging those who are opening new accounts, false explanations about their rules of opening new accounts in advance, about credits, charging those who are no longer using their accounts and the likes. The BNR said this is against its rules.
The Rwanda National Bank also accuses other banks of charging rents in Dollars in spite of Rwandan currencies which are in the same boat with the traders who have already deprived the pieces of five Rwandan francs its values to the market.
Some of Ecobank and BK customers who discussed with Bwiza.com said those banks charged them over closing their accounts while they were unable to use them which is against the rules. Those customers said they were charged while they did not get more explanations before having them opened.
One of them stated “I have been charged over 6000frw to have my account closed in Ecobank. I did not follow such recommendation but some other are paying for the service.”
Some traders said to deny five coin
Some other BK customers said they were told that they could have more than 7000frw on their accounts to have them closed.
The Governor of Rwanda national Bank John Rwangombwa said this is against the BNR rules because it has the rules that opening or blocking the accounts is free regardless any bank status in the country.
Kagoyire Francoise is charged of consulting and exchange in BNR. “having an account open is free. Before we had a rule that you are always charged when you no longer use your account but now, we have abolished it. No rule requires you to pay to have your account closed.”
Although BNR says it releases currencies to be used in the country by acceptance of the Government of Rwanda, some considered to be useless. One talked to Bwiza.com said “Some pieces of money are unusual in the country even when you collect them to get much. I once threw away more than Frw 400 in 5frw pieces because they had no value. Those people say nothing you can buy in pieces of five frw in the country.”
On the other hand, few traders still accept the currencies of five Rwf as valued ones.
The national bank governor John Rwangombwa said he has not known the case because all Rwandan francs have a value and were released to be used even a piece of five.
The piece of five is losing its value according to the traders who use to around where the piece of five is remaining.
The problem of the house owner who demand the payment in Dollars are also said to be the influence of Rwandan inflation. Rwandan currency now at 9.3%.
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