The Economics Association of Malawi (Ecama) has said commercial banks should take advantage of the low interest rate regime and come up with creative financial products to woe more customers and ensure their survival.

This follows the Reserve Bank of Malawi’s resolve to lower the policy rate to 14.5%, which means banks now offer 20-26% interest rates.

The banks seem to be currently working on a few fundamentals before they roll out lending initiatives, as they are disclaiming who accesses the funds depending on risks.