Zimbabwe: Banks Face Collapse

MAJOR commercial banks and other financial houses are facing a critical liquidity crisis largely caused by unlawful speculative investments which are now threatening to ruin the stricken institutions.

Information gleaned from an array of documents shows the situation has triggered tremors within the sector that was hit by a chain of high-profile institutional collapses in 2004. Cash shortages at the banks have compounded the situation as businesses and individuals are unable to access their money.

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