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Ivory Coast Rush To Withdraw Bank Cash

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http://www.bbc.co.uk/news/business-12478846

Long queues have formed at banks in Ivory Coast amid fears of a banking collapse as the Standard Chartered bank said it was suspending operations.

It is the fourth bank to close this week because of turmoil following November's disputed presidential polls.

Earlier it was reported that West Africa's BRVM stock exchange, based in Abidjan, had suspended its operations.

BRVM staff told the BBC they were working, but it was not clear if they were actually able to do transactions.

The UN-backed election commission named Alassane Ouattara as the winner of the election, but the result was reversed by a legal body and Mr Gbagbo remains in power despite the threat of international sanctions and military force.

........

Most cash machines in Abidjan are now empty or out of action, and for several weeks it has been almost impossible to cash cheques, he says.

In a statement to the BBC, Standard Chartered said it was suspending operations "until it is safe to reopen".

Not had a bank run story for a while.

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  • 284 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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