EDITORIAL: Individual cash holding limits retrogressive

EDITORIAL: Individual cash holding limits retrogressive
Rather than criminalise hoarding of cash by a public distrustful of banks because of acts of delinquency and prejudice suffered from banking their money with these institutions, government should restore confidence in the banking sector.

Rather than criminalise hoarding of cash by a public distrustful of banks because of acts of delinquency and prejudice suffered from banking their money with these institutions, government should restore confidence in the banking sector.

WE all keep a little money at home for incidental expenses. Most of our cash is kept in a bank, rather than stashed somewhere in a pillow or piggybank at home.
People keep their money in banks because they trust it is safe there and that they can get it out when they want it.
But Zimbabweans have had the worst experience with the country’s financial services sector since the start of the millennium, and now prefer to stash their money at home rather than at the banks. At least 30 financial institutions have collapsed since 2000, when the economy went into a tailspin due to economic mismanagement.

Read full story in The Financial Gazette paper

  • Truthfulness

    These “laws” show Zimbabwe is clearly NOT “open” to business – ED’s Government have done nothing but chase and harass the legitimate businesses whilst the real criminals look on laughing!

  • Beryl Neilson

    Do you really believe that by printing a few paragraphs on line that you are going to sell more papers. I can see no other reason for this foolish plan. You are making it impossible for the diaspora to be be able to keep up with the news in Zimbabwe. There are also many people in this country who cannot afford to buy a paper for two dollars A lot of them have access to the net only. Why do you bother putting it on line at all. I have never seen this done in any other country and have decided to drop Financial Gazette.

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