Thu, 01 Dec 2016 09:44:48 +0000 HUNDREDS of Intermarket Banking Corporation Zambia Limited customers yesterday rushed to withdraw their money from their accounts following information that the Bank of Zambia (BoZ) had taken possession of the bank which they declared insolvent. Head of communications for the central bank, Kanguya Mayondi, last Tuesday revealed that Intermarket Bank was no longer able to meet its institutional obligations and that the BoZ had taken possession of the bank. Hundreds of account holders at Intermarket Bank descended on the banking premises demanding an immediate withdraw of money from their accounts. The panic followed the central bank’s decision to take possession of the operations of Intermarket which they declared insolvent. A check by the Daily Nation found a small crowd of people standing near the closed bank entrance but revealed that there were more people earlier. A customer Terry Munkombwe said that he found out through the social media that […]
