BLANTYRE-(MaraviPost)-FDH Bank has again trashed the Daily Times article that put the bank at the corner over the MK4 billion government Treasury paid out to Malawi Electoral Commission (MEC) through its Chief Election Officer account.

The FDH press statement released on Monday, and made available to The Maravi Post says the paper’s story is misleading readers.

Below is the FDH full statement on the Daily Times article;


FDH Bank would like to clarify its position following a newspaper article published in The Daily Times of 1st July, 2019 that links the bank to a Malawi Electoral Commission (MEC) Current Account. The article has been followed by accusations on the bank’s alleged misconduct.

FDH Bank would like to inform the general public that this information is factually misleading and false.

While maintaining client’s confidentiality, FDH Bank can ascertain that the current account was taken over in 2017 as an operational account for MEC from Malawi Savings Bank (MSB) when it was acquired by FDH Bank. The current account has been active prior to the elections period as well as after the elections period complete with six (6) official signatories.

The current account has been formally maintained at FDH Bank (previously at MSB) because the bank has the largest footprint of service centres, reliable auto teller machines (ATMs) and effective social cash transfer channels in the country.

We therefore wish to appeal to the general public to seek clarification or factual information where uncertain.