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'''Post Office Savings Bank''' (POSB) is a savings bank owned wholly by the government of [[Zimbabwe]]. Founded in 1904, it was split up in 2001. This was a move to commercialize the bank and resulted in the creation of Net-One, Tel-One, and Zimpost and a standalone bank still called POSB.<ref> [http://www.rbz.co.zw/posb.html POSB],'' retrieved: 10 Jul 2018''</ref>.
 
'''Post Office Savings Bank''' (POSB) is a savings bank owned wholly by the government of [[Zimbabwe]]. Founded in 1904, it was split up in 2001. This was a move to commercialize the bank and resulted in the creation of Net-One, Tel-One, and Zimpost and a standalone bank still called POSB.<ref> [http://www.rbz.co.zw/posb.html POSB],'' retrieved: 10 Jul 2018''</ref>.
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In 2016, the bank was fined $500 000 by the [[Reserve Bank of Zimbabwe]] after some of its employees reportedly took pictures of bond notes in the bank's vault and posted them on social media<ref> [https://news.pindula.co.zw/2016/11/28/posb-fires-employees-leaking-bond-notes-images-bank-fined-500-000/ POSB fires employees for leaking bond notes images. Bank fined $500 000 ⋆ Pindula News],'' Pindula News, published: 28 Nov 2016, retrieved: 10 Jul 2018''</ref>. The Reserve Bank was about to release the bond notes into circulation and possibly was safeguarding against counterfeiting. 
  
 
==References==
 
==References==
 
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[[Category:Banks]]
  
 
[[Category:Banks]]
 
[[Category:Banks]]

Latest revision as of 20:21, 10 July 2018

Post Office Savings Bank (POSB)
IndustryFinancial Services
Fateactive
Founded1904
HeadquartersHarare, Zimbabwe
Key people
Admore Kandlela - CEO
OwnerGovernment of Zimbabwe
Number of employees
453 (2018)
Websitehttp://www.posb.co.zw

Post Office Savings Bank (POSB) is a savings bank owned wholly by the government of Zimbabwe. Founded in 1904, it was split up in 2001. This was a move to commercialize the bank and resulted in the creation of Net-One, Tel-One, and Zimpost and a standalone bank still called POSB.[1].

In 2016, the bank was fined $500 000 by the Reserve Bank of Zimbabwe after some of its employees reportedly took pictures of bond notes in the bank's vault and posted them on social media[2]. The Reserve Bank was about to release the bond notes into circulation and possibly was safeguarding against counterfeiting.

References

  1. POSB, retrieved: 10 Jul 2018
  2. POSB fires employees for leaking bond notes images. Bank fined $500 000 ⋆ Pindula News, Pindula News, published: 28 Nov 2016, retrieved: 10 Jul 2018