RBZ dismisses reports of local new accounts being called US$ RTGS

RBZ dismisses reports of local new accounts being called US$ RTGS. The bank noted that when the multi-currency system was put in place in 2009, there were problems of settling US dollar transactions within the local market until the RBZ put in place a system to settle such payments.

The Reserve Bank of Zimbabwe has dismissed social media reports that banks are opening new accounts referred to as “local USD RTGS transactions”, describing the reports as “false and misleading”, basically because there were already systems in place for both local and foreign payments in US dollars.

The system allows the movement of US dollars across banks for local transactions. But payments outside Zimbabwe are done through banks, the authorised dealers, and these banks have to follow the requirements of knowing their customer, do customer due diligence and comply with other procedures and processes.

Source – The Herald

In other news- Lady Squanda involved in an armed robbery storm, gets arrested

Lady Squanda involved in an armed robbery storm gets arrested. Born Sandra Gazi, the chanter is said to have surrendered herself to police yesterday after she fled from her house where suspected robbers had taken refuge on Monday night.Lady Squanda

Zimdancehall artiste Lady Squanda was on Tuesday arrested together with four suspected robbers in connection with a robbery case in Zengeza. National police spokesperson Assistant Commissioner Paul Nyathi confirmed the arrest saying part of the stolen items were recovered at…Learn More.

Back to top button