Zimbabwe postpones higher capital demands on banks by 6 years

HARARE Wed Jan 29, 2014 6:46am EST

HARARE Jan 29 (Reuters) - Zimbabwe has pushed back by six years its June deadline for banks to increase minimum capital requirements to $100 million from $25 million, the central bank said on Wednesday, a move that will relieve pressure on the undercapitalised sector.

The Reserve Bank in 2012 gave banks until June this year to increase capital requirements, but acting central bank governor Charity Dhliwayo said in a monetary policy statement the deadline had been moved to June 2020. (Reporting by MacDonald Dzirutwe; Editing by Ed Stoddard)