Banks secretive about plans for wooing clients before new tax comes into force

In response to the Finance Ministry's announcement that a 20% tax is to be introduced on earnings from bank deposits, the country's banks are reported to be preparing special offers to attract new clients. The banks are counting on a rush of new customers over the next two months, since accounts opened prior to January 1, 2002 will not be subject to the new tax. The banks are currently awaiting confirmation of the provisions contained in the new regulations. Representatives of 11 banks questioned by Prawo i Gospodarka declined to disclose any details of the offers they are preparing. All that is certain is that bank deposits will generally be less attractive, in the wake of the interest rate cuts introduced by the Monetary Policy Council (RPP). (Prawo i Gospodarka, p. 2) M.T.