THE Reserve Bank of Zimbabwe (RBZ) has placed seven troubled banks under surveillance amid concerns that the financial institutions could be facing insolvency problems.
Angry Met Bank depositors in Bulawayo on Friday turned violent after the bank failed to pay them, forcing police to intervene.
POLICE in Bulawayo have deployed details to maintain peace and order at banks around the city among increasing discontent and sporadic outbreaks of violence as clients fail to withdraw their money because most indigenous banks are experiencing a cash shortage.
CHAOS erupted at some banks in Bulawayo yesterday as the liquidity crunch continues to suffocate mostly indigenous banks in the festive season rush.
THE CHAOS that gripped Allied Bank and Metropolitan Bank yesterday was a symptom of a serious problem bedevilling the country’s financial sector.
THERE was a stampede in most banks in Bulawayo yesterday as depositors queued to withdraw money, with some banks reported to have run out of cash.
A CASH crisis has hit the country three days after President Robert Mugabe and Zanu PF controversially romped to a disputed landslide victory with banks yesterday reportedly running out of cash.