FULL TEXT: RBZ Orders Metbank To Stop Dealing In Forex With Immediate Effect

The Governor of the Reserve Bank of Zimbabwe, Dr John Panonetsa Mangudya, has suspended Metbank Limited from dealing in foreign currency with immediate effect. In a statement, seen by Pindula News, Mangudya said the bank is not allowed to deal in foreign currency, international and domestic foreign currency transactions until further notice. Reads the statement:

SUSPENSION OF METBANK LIMITED FROM OPERATING AS AN AUTHORISED DEALER

The Reserve Bank of Zimbabwe (the Bank) wishes to advise the public that it has, with immediate effect, suspended Metbank Limited from operating as an authorised dealer pending full investigations for breach of Exchange Control regulations relating to trading in foreign currency.

Metbank Limited will not be permitted to deal in foreign currency, that is buying and selling foreign currency, and processing international and domestic foreign currency transactions, until further notice.

The suspension of its authorised dealership licence does not relieve Metbank Limited of any outstanding obligations it incurred or had at the time of suspension of the licence.

John P. Mangudya Governor
20 April 2022

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