Interesting

21 01 2011

I was making a deposit into the account of my insurance broker on Tuesday at a local branch of CABS, which despite the name (Central African Building Society) has been a registered commercial bank for some time. Behind the teller was a board offering interest rates on long term, up to 90 days, deposits. The highest rate they were offering was 7% which was a lot better than anything I could find “out there” in the real world. It’s no secret that a lot of money has been externalized from Zimbabwe, this could only be an attempt to get some of it back. I had to admit it WAS pretty attractive but just how secure is the Zimbabwe banking sector?

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One response

21 01 2011
Big Blister

90 days is long term? A bank here mailed me an offer of $1125 if I opened and account and kept it for 6 months. I kept looking for the fine print….

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