RBZ resolves gold forex crisis
Reserve Bank of Zimbabwe (RBZ) governor, Dr John Mangudya, yesterday said the bank found a sustainable way to manage funds required to make consistent US dollar cash payments to small… Read more »
Category: Finance
Court upholds suspension of EcoCash agents
The Reserve Bank of Zimbabwe (RBZ) acted within its mandate when it suspended EcoCash mobile money agents from conducting financial transactions to curb abuse, the High Court has ruled, and… Read more »
Parallel market rates a bubble: RBZ
The rapid rise in parallel market foreign currency exchange rates is symptomatic of a bubble as it lacks any fundamental basis and could lead to economic depression, says Reserve Bank… Read more »
RBZ directs banks to relax terms for borrowers
The Reserve Bank of Zimbabwe has directed banks to relax credit granting requirements as it moves to provide credit support to firms that have been hit by the coronavirus pandemic… Read more »
Two Zim banks off sanctions list
Agribank and the Infrastructure Development Bank of Zimbabwe (IDBZ) have now been fully removed from the US sanctions list, the American Department of the Treasury has announced, allowing them to… Read more »
Zim to benefit from Standard Chartered US$11.8mln package
ZIMBABWE is set to benefit from the Standard Chartered Bank’s US$11,8 million support towards Covid-19 relief efforts across Africa and the Middle East. The banking group indicated in a latest… Read more »
High Court Says USD Debts Must Be Paid In USD
In a potentially far-reaching judgment, the High Court has declared INVALID the RBZ Exchange Control Directive No. R120/2018. The directive which created FCA “nostro” accounts (as distinct from “RTGS” accounts)… Read more »
AfDB approves $13,7m grant to Zim
THE African Development Bank (AfDB) has approved a $13,7 million grant towards Zimbabwe’s COVID-19 response. The funds will provide a lifeline for targeted frontline responders and health personnel and boost… Read more »
High Court reverses RBZ currency conversion
The High Court has declared unconstitutional, a Reserve Bank of Zimbabwe (RBZ) exchange control directive converting sums in accounts originally designated in US dollars into Zimbabwe dollar-denominated accounts, ordering a… Read more »
NBS targets diaspora market
National Building Society (NBS) says it has introduced a diaspora mortgage plan to enable Zimbabweans living abroad to invest in real estate back home. Under this package, the institution will… Read more »