Hundreds Queue in Singapore for Funds From Bank of China
Hundreds of Singaporeans lined up for more than a mile outside the Bank of China today to withdraw their savings because of concern over the turmoil in China.
The Chinese bank, which remained open until 10 p.m. Tuesday to clear the rush of about 3,000 depositors, paid out more than $13.5 million, Deputy General Manager Min You-Chi said.
“This is a fraction of our total deposits. The bank will try to accommodate all who want to withdraw their money,” he said.
Many customers who lined up today brought packed lunches, anticipating a long wait. Police guided the crowd inching toward the bank building in the heart of the business district.
“I want to withdraw all my savings because I fear my money is not safe with the bank,” said a housewife who got in line at 4 a.m.
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