KINSHASA, Zaire -- Barclays Bank said it would close its branches in Zaire next week. A collapse in investor confidence has virtually paralyzed the crisis-torn country's banking sector.
"Barclays Bank has decided to review its overseas operations and withdraw from certain countries, including Zaire," said bank manager R.R. Kingham.
Many Zairians have stopped depositing money, resulting in a liquidity pinch and forcing banks to halt or severely limit cash withdrawals.