RBZ dismisses false reports on foreign currency

RBZ dismisses false reports on foreign currency
Published: 26 June 2019 (165 Views)
The Reserve Bank of Zimbabwe has dismissed information circulating on social media that banks have been instructed to any cash withdrawal of forex by clients.

Zimbabwe was abuzz with information alleging that the forex in clients' Nostro accounts have been converted to the local currency.

"Further to our Directive, the Reserve Bank wishes to advise that contrary to certain information being circulated on social media, cash withdrawals by individuals are still permissible and the policy position hasn't changed." The Central Bank said.

The further clarified that the daily withdrawal limit has not changed.

"For corporates, banks shall apply the KYC principle for any intended cash withdrawals and current withdrawal limit for individuals remains US$1000 per day.

"Individuals are still able to withdraw their cash from their individual accounts and banks are, in line with international best practice, expected to apply the AML/CFT principles."

On Monday Finance Minister Mthuli Ncube gazetted a Statutory Instrument that prohibits the use of foreign currency as legal tender.



- Byo24News

 0

You May Like These Videos

Comments

There are no comments.

Latest stories

'Mnangagwa redefines corruption'

by Mandla Ndlovu | 19 July 2019 | 32 Views

ZESN condemns Zanu-PF vote buying

by Staff Reporter | 19 July 2019 | 77 Views

Ramaphosa 'deliberately misled parliament'

by Staff reporter | 19 July 2019 | 55 Views

SA Home Affairs has 3000 uncollected Zimbabwe permits

by Staff reporter | 19 July 2019 | 68 Views

How CIOs benefited from Jonathan Moyo's ZIMDEF funds

by Mandla Ndlovu | 19 July 2019 | 79 Views

Mnangagwa speaks on ailing Chiwenga

by Staff Reporter | 19 July 2019 | 199 Views

Police statement on Prophet Walter Magaya

by Mandla Ndlovu | 19 July 2019 | 123 Views

Temba Mliswa writes to Nelson chamisa

by Mandla Ndlovu | 19 July 2019 | 152 Views

USD$ 3 Billion disappears in Zimbabwe

by Mandla Ndlovu | 19 July 2019 | 177 Views

Jonathan Moyo speaks on rape allegations

by Mandla Ndlovu | 19 July 2019 | 168 Views

New wave of African stars prepare for debut NBA seasons

by Staff Writer | 19 July 2019 | 90 Views

'War Lords to take over Zimbabwe'

by Mandla Ndlovu | 19 July 2019 | 191 Views

How ZANU PF will be removed

by Blessing Vava | 19 July 2019 | 150 Views

Mnangagwa's wife apologises for burst up

by Staff reporter | 19 July 2019 | 207 Views

Kidnappers pounce on ex-MP Zindi's farm

by Staff reporter | 19 July 2019 | 120 Views

Road to be named after Mnangagwa

by Mandla Ndlovu | 19 July 2019 | 123 Views

Zimbabwe man in trouble over US$1m bank balance

by Staff reporter | 19 July 2019 | 122 Views

Talking about Gukurahundi therapeutic, says Mohadi

by Staff reporter | 19 July 2019 | 84 Views

US govt happy with Mthuli Ncube's TSP

by Staff reporter | 19 July 2019 | 95 Views

Steve Dyer dedicates song to Tuku

by Staff reporter | 19 July 2019 | 69 Views

Mnangagwa to commission more Zupco buses

by Staff reporter | 19 July 2019 | 91 Views

ZITF caught up in Rushwaya saga

by Staff reporter | 19 July 2019 | 73 Views

Supa seeks case dismissal

by Staff reporter | 19 July 2019 | 56 Views

RBZ takes reforms gospel to churches

by Staff reporter | 19 July 2019 | 70 Views

Mid-year bonus for pensioners

by Staff reporter | 19 July 2019 | 70 Views

Zimbabwe govt eating what it has killed, says Mthuli Ncube

by Staff reporter | 19 July 2019 | 68 Views

Health Ministry clarifies Lupane drugs distribution

by Staff reporter | 19 July 2019 | 63 Views

Bosso members refute 'social media ban' reports

by Staff reporter | 19 July 2019 | 46 Views

New players to get radio, TV licences

by Staff reporter | 19 July 2019 | 33 Views

4 armed robbers shot dead

by Staff reporter | 19 July 2019 | 52 Views

Lupane lecturers go on strike

by Staff reporter | 19 July 2019 | 50 Views

Mnangagwa's govt pampers chiefs

by Staff reporter | 19 July 2019 | 35 Views

Let's stamp out fear of witchcraft

by Fr Oskar Wermter SJ | 19 July 2019 | 75 Views

Mnangagwa needs to walk the talk on corruption

by Editorial - Newsday | 19 July 2019 | 70 Views