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RBZ probes schools and pharmacies over currency manipulation

RBZ probes schools and pharmacies over currency manipulation. In a statement issued by RBZ Governor John Mangudya today, the FIU will take punitive measures against currency manipulators, among them, imposing fines and freezing their bank accounts.

The Reserve Bank of Zimbabwe (RBZ) said that the Financial Intelligence Unit (FIU) is investigating several institutions including businesses and schools for currency manipulation. The statement read:

The Reserve Bank of Zimbabwe would like to advise the public that the Financial Intelligence Unit (FIU) is currently investigating cases of breaches of the Bank Use Promotion Act and currency manipulations by some business entities.

The breaches have become particularly pronounced and prevalent at some schools and pharmacies.

The FIU will deploy all tools at its disposal to deal with such malpractices including the imposition of fines, freezing of bank accounts and blacklisting from the enjoyment of financial services. Members of the public are urged to report offending businesses and service providers to the FIU on hotline numbers 0780434475 and 0714039897.

Source – Pindula News

In other news – 17 passengers burnt to death in horrific N1 Limpopo crash

17 passengers burnt to death in horrific N1 Limpopo crash. A 22-seater bus collided head-on collision with a Toyota SUV on the N1 near Mookgophong off-ramp in Limpopo on Tuesday night resulting in multiple fatalities and injuries.Limpopo crash

Seventeen (17) have been killed, while eight (8) others were injured in a horrific road traffic accident in South Africa’s Limpopo Province…Learn More.

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