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John Mangudya addresses the $44 000 & $15 000 saga: Special people don’t have cash withdrawal limits

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John Mangudya

John Mangudya addresses the $44 000 & $15 000 saga: Special people don’t have cash withdrawal limits. RBZ governor John Mangudya’s comments come after outraged Zimbabweans questioned how Ecobank and CBZ allowed certain customers to withdraw $15 000 and $44 000 in cash when the weekly withdrawal limit stands at only $300 per individual.

Reserve Bank of Zimbabwe (RBZ) governor John Panonetsa Mangudya has said that cash withdrawals do not apply to everyone as some have special exceptions. Speaking to national broadcaster ZBC, Mangudya said,

There is no problem in withdrawing money above a stated limit, exemptions are permissible in the financial services sector. People who want to pay farmworkers, gold buyers often get these exemptions.

BondnotesWhat worries me is why one is posting money on social media? To cause alarm and despondency in the economy? So we need to change our laws to cater for that, the cybersecurity bill must come into effect.

These are symptoms of a lack of national cohesion and being done by abnormal people. We supervise banks, and depositors are clients of banks, so when it gets to that level, it’s under the purview of financial institutions.

CBZ-Bank-Coins

Source – iHarare

In other news – Report: Joice Mujuru happy to accept Chiwenga’s post

Report: Joice Mujuru happy to accept Chiwenga’s post. Former Cabinet Minister, Professor Jonathan Moyo has claimed that President Emmerson Mnangagwa has offered former Vice President, Joyce Mujuru the same post which she lost in 2008.

Joice_SOLOMON-MUJURUPosting on Twitter, Moyo said that Mujuru is likely to replace ailing VP Constantino Chiwenga who is currently receiving medical attention in China. Moyo said: After having led and coordinated Joice Mujuru’s ouster from 2008 until he succeeded her as…continue reading.

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