Ivory Coast rush to withdraw bank cash

Source: BBC

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 BBC's John James in Abidjan says the BRVM did not function on Monday. It said in a statement this was because of "technical problems".

Tuesday was a bank holiday and on Wednesday morning there remained armed police outside and inside the premises, our reporter says. Last week, soldiers loyal to Laurent Gbagbo, who is refusing to step down as Ivory Coast's president, invaded the exchange's offices in Abidjan.



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