Interfin in trouble

Interfin Bank, which has run out of cash at all its branches in Harare, is now having it delivered in sealed envelopes, The Zimbabwean can reveal.

Cash arrived in an envelope on Saturday morning for the more than 100 customers gathered in the banking hall at the Century Towers Branch in Harare. “This is now getting out of hand,” said a client who had come as early as 6am to withdraw cash at the branch.

“They must just give us all our cash today and I am going to close my account after that,” said an angry customer at the Towers branch in Harare.

The branch manager begged customers not to worry because he was doing all he could to bring cash that day. “I am doing everything I can,” he said. “I have children too who are starving at home and without cash just like you.”

An informal survey by this newspaper revealed the bank has been facing countrywide challenges for some time. This is not the first time the bank has run out of cash.

The General Manager at the Century Towers Branch who would not divulge his name confirmed that cash had indeed run out. Interfin Bank Limited is a subsidiary of Interfin Banking Corporation Limited which is listed on the Zimbabwe stock Exchange. It was renamed

Interfin after taking over the collapsed Century Bank Limited.

Visits to OK Zimbabwe Limited’s First Street store showed that the giant retailer was no longer allowing Interfin swipe cards to be used in their store. At TM Supermarket, the tellers also refused to accept the Interfin swipe card saying the commercial bank was ‘‘not paying its dues on time”.

Post published in: Business

Leave a Reply

Your email address will not be published. Required fields are marked *