Sep 24, 2017 Last Updated 10:33 AM, Sep 22, 2017

RBM Not In Charge Of Regulating Malawi's Insurance Industry

RBM Not In Charge Of Regulating Malawi's Insurance Industry Image sourced at gettyimages.com
Published in Business News
Read 1873 times
Rate this item
(0 votes)

A Director at the Reserve Bank of Malawi has disclosed that the RBM still does not have full control over medical aid and insurance, pending completion of a regulatory framework on the matter.

There had been queries on the Registrar of Financial Institutions’ mandate to regulate medical insurance in the country, owing to disputes that arose about two years ago, between medical aid providers and hospitals.

There was a case, which saw disagreements over a medical aid institution’s failure to remit claim bills to administering health facilities.

The development led to the suspension of attendance to patients on medical insurance cover from the concerned Medical aid providers.

The Reserve Bank said then, that they could not intervene on such matters, as their mandate was limited.

This was due to a lack of a regulatory framework.

Speaking to Capital FM, the RBM’s Director Responsible for Pensions and Insurance Supervision Chimwemwe Kachingwe reveals that they have finalised drafting a Bill on the same.

172 comments

Leave a comment

Make sure you enter the (*) required information where indicated.Basic HTML code is allowed.

Capital Tweets

Keshia KZOsmanMeyer Keshia

RT @YouKnowNicole: #Live #CDOB on @CapitalFMMw the #MorningDrive team just got bigger! https://t.co/dOdfM6X2cm

12 hours, 36 minutes ago Reply Retweet Favorite
Miss Theo Theothatsme Miss Theo

The final team in ON!!! #CDOB on @CapitalFMMw #CFMKids #KeepItCapital #KidsUnlimited #KidsTakeover https://t.co/1Xd0UhuWKK

14 hours, 42 minutes ago Reply Retweet Favorite
Capital FM Malawi CapitalFMMw Capital FM Malawi

#TsikuLaAna. @CapitalFMMw Yvonnie ndi Nelson nkhata tikuphunzila from the kids in the studios! #CDOB... https://t.co/se6KNpPIey

16 hours, 32 minutes ago Reply Retweet Favorite
Samie K. JustSamie Samie K.

#TsikuLaAna. @CapitalFMMw ine ndi @nels_nkhata tiphunzile from the kids in the studios!

16 hours, 57 minutes ago Reply Retweet Favorite
Samie K. JustSamie Samie K.

#CDOB @CapitalFMMw. @nels_nkhata getting ready to talk Gender Roles & Careers with our 4 kids from 2-4. Precious,Tina,Daud,Emily #TuneIn

16 hours, 58 minutes ago Reply Retweet Favorite

Find Us on Facebook