Sat, 03 Dec 2016 10:18:48 +0000 INTERMARKET Banking Corporation Zambia Limited which was closed last Tuesday after the Bank of Zambia took over its operations will open soon because the Central Bank is capable of running any bank they repossess as it has proved in the past, says Economist Oliver Saasa. Meanwhile, Prof. Saasa warned that small banks in Zambia also risked being taken over by the Central Bank because of liquidity challenges. Prof. Saasa, in an interview with the Daily Nation, said that there was nothing to worry about following the closure of Intermarket Bank because the financial institution would open soon as BOZ was smoothening things. He explained that this was not the first time that the Central Bank was taking over operations of a bank that was insolvent and that they had taken over banks in the past and ironed out crises. Prof. Saasa, who is also on the board of directors […]
