News / Local
Bank clients in rush to withdraw money
07 May 2016 at 09:15hrs | Views
Panic has gripped most bank clients in Bulawayo as there is a rush to empty bank accounts.
Bulawayo24.com this morning observed that most banks have long winding queues.
The panic has been sparked by the announcement to introduce bond notes by the Reserve Bank of Zimbabwe.
"Am not sure what will happen when the bond notes are introduced.
"Its far better to withdraw what ever is in my account," said Moses Dube at a building society.
Added Peter Dube "Very soon we will be paid in bond notes. When that happens osiphatheleni (illegal money changers) would be back in business.
"So the uncertainty will benefit few individuals".
On Wednesday, RBZ announced that as measures to curb cash crisis it was injecting bond notes into the market.
The bond notes are an extension of bond coins.
All along RBZ had been saying the cash crisis was not widespread.
But banks have been allowing clients to withdraw a maximum of $200 daily.
Bulawayo24.com this morning observed that most banks have long winding queues.
The panic has been sparked by the announcement to introduce bond notes by the Reserve Bank of Zimbabwe.
"Am not sure what will happen when the bond notes are introduced.
"Its far better to withdraw what ever is in my account," said Moses Dube at a building society.
Added Peter Dube "Very soon we will be paid in bond notes. When that happens osiphatheleni (illegal money changers) would be back in business.
"So the uncertainty will benefit few individuals".
On Wednesday, RBZ announced that as measures to curb cash crisis it was injecting bond notes into the market.
The bond notes are an extension of bond coins.
All along RBZ had been saying the cash crisis was not widespread.
But banks have been allowing clients to withdraw a maximum of $200 daily.
Source - Byo24News
