WARNING: This is Version 1 of my old archive, so Photos will NOT work and many links will NOT work. But you can find articles by searching on the Titles. There is a lot of information in this archive. Use the SEARCH BAR at the top right. Prior to December 2012; I was a pro-Christian type of Conservative. I was unaware of the mass of Jewish lies in history, especially the lies regarding WW2 and Hitler. So in here you will find pro-Jewish and pro-Israel material. I was definitely WRONG about the Boeremag and Janusz Walus. They were for real.
Original Post Date: 2004-01-07 Posted By: Jan
From the News Archives of: WWW.AfricanCrisis.Org
Date & Time Posted: 1/7/2004 5:49:50 AM
Zim depositors panic at crackdown on banks
Harare – Panicky Zimbabwean depositors have been moving their money from some recently established commercial banks following an announcement by the central bank that it is investigating the operations of banks suspected to be experiencing liquidity problems, officials said. “It’s bad, our deposits are moving up and down,” an official at one bank said. The Reserve Bank of Zimbabwe announced last week that it had launched an extensive review of the operations of some banking institutions, leading to the closure of a leading asset management company on New Year’s Day. Another banking official said only big clients were moving their deposits to the traditional banks such as Standard Chartered and Barclays. State media reported that these long-established traditional banks had been turning down cheques issued by the banks suspected to be under investigation by the central bank.
Zimbabwe has about 16 registered commercial banks. About two-thirds of them have been established in the past decade. The central bank has warned that in the process of its review of the financial sector, “some banking institutions may experience liquidity difficulties as they justify their assets (or) liability mixes”. The bank said it was probing the banks in an effort “to rid the sector of speculative and non-core banking activities which had become rampant in this sector”. On New Year’s Day the central bank shut down Century Discount House and cancelled its banking licence after it failed to pay out some funds owed to investors. Two directors of ENG Capital, which had in April last year bought Century Discount House, were arrested and they appeared before a court yesterday. Cuthbert Muponda, 32, and Nyasha Watyoka, 32, were accused of defrauding several clients of more than 61 billion dollars (about 76 million US dollars). The state alleges that the clients’ money, which was intended for investment on the money market, was used by the two to buy properties in Zimbabwe and overseas as well as to import luxury vehicles.
Source:Business Day (SA)
URL: http://www.zwnews.com/issuefull.cfm?ArticleID…br>