Cash-hoarding cripples banking sector: BAZ
…as individuals become de facto banks ...liquidity squeeze derails long-term lending
ROBIN PHIRI Zimbabwe’s banking sector is facing a severe liquidity crunch as billions of dollars are hoarded outside the formal financial system by wealthy individuals, according to the Bankers Association of Zimbabwe (BAZ). With cash stashed in vaults, safe boxes and under mattresses, these individuals have effectively become de facto banks, starving formal institutions of capital…
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