Zimbabwe Absurdity

I was making a deposit into the account of my insurance broker on Tuesday at a local branch of CABS, which despite the name (Central African Building Society) has been a registered commercial bank for some time. Behind the teller was a board offering interest rates on long term, up to 90 days, deposits. The highest rate they were offering was 7% which was a lot better than anything I could find “out there” in the real world. It’s no secret that a lot of money has been externalized from Zimbabwe, this could only be an attempt to get some of it back. I had to admit it WAS pretty attractive but just how secure is the Zimbabwe banking sector?