The RBZ released a statement to the public notifying them that Innbucks has been ordered to seize operations as a money transfer service. Simbisa Brands has also released a statement on their Twitter account. In the statement, Simbisa Brands informs the public it is engaging with the RBZ in respect of Innbucksā ADLA license. Simbisa… Continue reading Simbisa Brands Engages With RBZ To Reverse Innbucks Ban
Tag: Reserve Bank of Zimbabwe
RBZ Cracks Down On Innbucks, Metbank Limited And Rolink Finance
The Reserve Bank Of Zimbabwe (RBZ) has officially issued statements notifying the public that Innbucks, Metbank and Rolink Finance have violated a variety of regulations. Innbucks The RBZ has ceased Innbucks from operating as a money transfer service provider with immediate effect citing their inability to regulate the service as directed by the bank last… Continue reading RBZ Cracks Down On Innbucks, Metbank Limited And Rolink Finance
RBZ To Introduce $100 Bond Note
The Bond-USD rates are ever-increasing and with them a demand for higher dimensions of the bond note. The Reserve Bank Of Zimbabwe (RBZ) is set to release a 100 dollar bond note. A document is in circulation about the features that it will have. This development comes after RBZ announced new regulations by the Monetary… Continue reading RBZ To Introduce $100 Bond Note
RBZ Liberates The Forex Market; Now Banks Can Buy USD From Individuals And Corporates
The Reserve Bank of Zimbabwe (RBZ) released a press statement on their social media platforms with the caption āResolutions of the Monetary Policy Committee (MPC) Meeting held on 1st April 2022ā In the statement, RBZ expressed being concerned about annual inflation that has risen from 66.11% to 72.70%. The Monetary Policy Committee (MPC) also noted… Continue reading RBZ Liberates The Forex Market; Now Banks Can Buy USD From Individuals And Corporates
Zimbabwe To Dollarise By June
Economist Gift Mugano has predicted that Zimbabwe may dollarize by June. Gift Mugano is a leading economist and executive director at Africa Economic Development Strategies. He spoke as Reserve Bank of Zimbabwe governor John Mangudya told the Confederation of Zimbabwe Industries that Zimbabwe would be using its currency as the main medium of exchange by… Continue reading Zimbabwe To Dollarise By June
RBZ releases press statement: We’re not happy with the two people hugging on our floor! (pics inside)
The Reserve Bank of Zimbabwe has addressed a very pressing issue, in their opinion, in a recent press statement. The issue was taken up to the director of RBZ himself,John Mangudya, who elegantly signed the press statement. An image was circulating on social media yesterday. Two individuals were caught hugging by the RBZ “high-definition CCTV”… Continue reading RBZ releases press statement: We’re not happy with the two people hugging on our floor! (pics inside)
Companies using informal sector rates are funding smuggling says Eddie Cross
Two years ago, the new Minister of Finance in Zimbabwe brought together a small group of local business persons in an informal advisory group. I was privileged to be included. Our meetings were irregular, largely driven by the Ministers need for a sounding board against which he could bounce ideas and problems. The great thing… Continue reading Companies using informal sector rates are funding smuggling says Eddie Cross
Mthuli Ncube addresses increase in bank withdrawal limit
As a move to combat the black market, the Treasury chief and the Reserve Bank of Zimbabwe(RBZ), last year decided to put a limit on the amount of money can be withdrawn. The then established bank withdrawal limiting was placed at $2000. This limit was therefore unsatisfactory to a number of citizens who wanted the… Continue reading Mthuli Ncube addresses increase in bank withdrawal limit