• EDITORIAL POLICY
  • ABOUT US
PML Daily
No Result
View All Result
  • Home
  • NEWS
    • Politics
    • Education
    • Regional
    • Africa
    • World
  • INVESTIGATIONS
    • National Archives
    • Special Reports
  • OpEd
  • BUSINESS
    • Agriculture
    • Tech
    • Finance
  • FEATURES
    • Health
    • Tours & Travel
    • Entertainment
    • Society
  • COLUMNISTS
    • The Suited Penguin
  • SPORT
  • Jobs
  • Magazines
  • Home
  • NEWS
    • Politics
    • Education
    • Regional
    • Africa
    • World
  • INVESTIGATIONS
    • National Archives
    • Special Reports
  • OpEd
  • BUSINESS
    • Agriculture
    • Tech
    • Finance
  • FEATURES
    • Health
    • Tours & Travel
    • Entertainment
    • Society
  • COLUMNISTS
    • The Suited Penguin
  • SPORT
  • Jobs
  • Magazines
No Result
View All Result
PML Daily
No Result
View All Result
Home NEWS

Rwanda’s central bank wants minimum wage set

WILLIAM LUBUULWAbyWILLIAM LUBUULWA
March 18, 2019
12 0
9
SHARES
172
VIEWS
FacebookWhatsAppTwitter
National Bank of Rwanda. The Bank wants minimum wage set. (FILE PHOTO)

KIGALI – The National Bank of Rwanda has said the absence of a minimum wage is killing the insurance sector in the country, The New Times has reported.

The daily reported that in the process of determining rightful compensation for workers when they are injured at work, courts rely on minimum wage to determine the indemnity to victims. Lack a minimum wage, among other factors, drives speculation, thereby negatively affecting the insurance sector.

Speaking to the Senatorial Standing Committee on Economic Development and Finance in Kigali last week, the Deputy Governor of the central bank, Ms. Monique Nsanzabaganwa, said the absence of common minimum pay was one of the issues threatening the survival of the industry.

The session was analysing the National Bank of Rwanda’s 2017/2018 financial year report.

“We need guaranteed minimum wage…its absence is killing the insurance sector,” Ms. Nsanzabaganwa said, pointing out that currently, courts base on a daily wage of Rwf3,000 to make decisions, which could be misleading.

She concurred with insurers that some people are exploiting this gap, making an urgent call to set the basic wage.

Jean Pierre Majoro, the executive secretary of Rwanda Insurers’ Association, told The New Times that the fee was Rwf5,00 back in 2012 before gradually increasing to Rwf3,000 currently, pointing out that this is detrimental to the insurance sector performance.

He said that the minimum salary is needed in order to prevent speculation by judges or lawyers.

“The move would be beneficial for both the claimant and the insurer because there have been delays resulting from disagreements that end up in court over the money that should be given to the former,” Mr. Majoro noted.

Related

Leave a comment

Tags: MINIMUM WAGENATIONAL BANKrwandatop

Get real time update about this post categories directly on your device, subscribe now.

Unsubscribe

Advertisement

About

The PML Daily, published via www.pmldaily.com is a publication of Post Media Ltd, a professional Digital/New Media company in Uganda.

Follow us



  • EDITORIAL POLICY
  • ABOUT US

© 2022

No Result
View All Result
  • Home
  • NEWS
    • Politics
    • Education
    • Regional
    • Africa
    • World
  • INVESTIGATIONS
    • National Archives
    • Special Reports
  • OpEd
  • BUSINESS
    • Agriculture
    • Tech
    • Finance
  • FEATURES
    • Health
    • Tours & Travel
    • Entertainment
    • Society
  • COLUMNISTS
    • The Suited Penguin
  • SPORT
  • Jobs
  • Magazines

© 2022

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist