'Enact law to deal with money changers'

'Enact law to deal with money changers'
Published: 17 October 2018 (185 Views)
The Anti-Corruption Trust of Southern Africa (ACT-SA) has urged President Emmerson Mnangagwa and lawmakers to come up with a law to deal with illegal currency trading and related financial activities in Zimbabwe.

This comes after ACT-SA had a meeting with the Police Acting District Commanding Officer, the Dispol, after noting that illegal currency traders were not being arrested and operated with impunity.

"The Dispol made it crystal clear that the country should not expect the Zimbabwe Republic Police to arrest any person implicated in illegal currency dealings since there is no law in place that can be used to arrest them," Obert Chinhamo, the director of ACT-SA, said.

"This legal gap casts the country into serious problems. Mnangagwa and his team as well as law makers should urgently do something about this gap since this area is a security risk."

Chinhamo said they had conducted a study which showed that the Reserve Bank of Zimbabwe (RBZ), commercial banks, and politically exposed persons were fingered in illegal currency dealings.

- dailynews

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