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

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:


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

More: Pindula News

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Nyata 3 months ago


xxxx 3 months ago

kungo taurawo semhunhu anemuromo.What should happen ndezvekuti exhange shld float first then when goods are being exported ma invoice should be settled in ZWL ndokuti demand yelocal currency ikwire at the same time money supply yechitariswa kubudidza ne fisical expenditure and ma monetary policies e RBZ.But at the same tyme kana macompany akudawo maUSD ema raw materials and capital expenditures awo,mari ngaibude kuRBZ.Uyezve kana ma ZWL notes achiprindwa ngakuiswe Goridhe kuRBZ rino mirira mari iyoyo ndokuti ZWL redu would be as good as gold and gold would also be good as ZWL.kwete kuti mari ipepa rine mufanidzo vambuya nehanda, fait value does nt wrk paZWL.

Chawabvunza 3 months ago

All this time citizens were suffering yet RBZ knew the culprits who were behind the spiraling blackmarket rate. These institutions must be t****ughly investigated, prosecuted, covicted and sentenced to sentences which commensurate with crimes. My hope is that blackmarket rate is going to stabilize or go down appreciably.


Kodo 3 months ago

This Exchange rate issue is now a national security threat yakuda army ipindire ndava pari kuurawa vanhu indirectly

xxxx 3 months ago

Army inoita chii panyaya dzema exchange rate.Hauna kana idea yezvauri kutaura.Nyarara!

Machiavelli 3 months ago

Please stop promoting militarization of Zimbabwe

That is what got us into the mess we are in today

1234 3 months ago

Banning of USD ndokwavave kuenda

Blabber 3 months ago

Is this a coincidnce? Recently hiring more personnel for the financial intelligence unit, and now this onslaught against these lawbreakers..... all part of a plan me thinks.... more still to come

Upper 6 3 months ago

Guys Metbank inoita nezvei....I'm failing to understand the article above bcoz I have no idea about Metbank

teacher wegrade 2 3 months ago

form 2 staff commerce
list 5 the functions of a bank ?
if u do this we are done with you


ncube brothers, trevorry hlomthully 3 months ago

we directed panon to ban all bank with American and west interests, we want banks from our friends only, ie Russia,iran, N Korea, China, India , Belarus and more

Zuze 3 months ago

Zuze naZuze vakaroverana musoro paPressure.

Ndipewo mazita emabank eko Russia, Chins, India, Belarus, North Korea neIran ari kushanda muAfrica please.

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