‘Foreign banks not worth their salt’

ZIMBABWE plans to amend its Banking Act after repeated attempts to sell Treasury bills failed to attract bids at rates acceptable to the central bank and Finance ministry, Finance minister Tendai Biti  has said.

“I’ve written foreign banks off, they’re not worth their salt,” Biti said in a phone interview from Harare yesterday.

“That is why we are amending the Banking Act.”

This story is for NewsDay subscribers.