Daily Banking Industry News
Thursday 20th of November 2008

Banking Sectors:

By company:

By organisation:

Also see:

July 3, 2008

Printers stop providing Zimbabwe with banknote paper

by Richard Kilner

Story link: Printers stop providing Zimbabwe with banknote paper

German printers Giescke & Devrient have taken the decision to stop providing the Reserve Bank of Zimbabwe with banknote paper.

The move, which came into effect on Tuesday, comes in response to the growing worldwide condemnation of Robert Mugabe.

The European Union and United Nations have both called for sanctions, and the German government made an official request to the printers, who acted accordingly.

Dr. Karsten Ottenberg, chair of the management board and CEO, explained that the move came as the Zimbabwean situation sees increasing rather than decreasing tensions.

In response to the withdrawal of Giescke & Devrient’s banknote paper supplies, the Reserve Bank of Zimbabwe’s governor, Dr. G. Gono, has issued a press release.

In it, he states that its operations will not be disrupted by the action, and that contingency plans have been put into effect.

However, it is not made apparent what these measures and strategies are.

The people of Zimbabwe are advised by Dr. Gono to continue as normal in their financial activities.

 

Add to Bookmarks:

ADD TO NETSCAPE     ADD TO DEL.ICIO.US     ADD TO DIGG     ADD TO FURL

ADD TO STUMBLEUPON     ADD TO YAHOO MYWEB     ADD TO GOOGLE     ADD TO SPURL


Related stories to: Printers stop providing Zimbabwe with banknote paper

Bank of China issues Olympic banknote  ...

RBS to acquire Cheyne Finance  ...

Zimbabwe increases withdrawal limit twenty fold  ...

Zimbabwe doubles daily withdrawal limit  ...

Australian financing vehicles exposed to commercial paper  ...

No Comments »

No comments yet.

Leave a comment


Previous: « JPMorgan strikes deal with SAMCo
Next: ECB increases interest rates by 25 basis points »

Visited 2278 times, 1 so far today

Investment Banking News

Investment Banking Newss
Evolution Securities expands Fixed Income unit

Savings & Investment News

Savings & Investment News
uSwitch.com: Banks quick to cut savings rate

Borrowing & Lending News


Employment News

Banking Employment & Jobs News
Baird establishes wealth management office in California