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RBZ Probes Schools, Pharmacies Over Currency Manipulation

RBZ Probes Schools, Pharmacies Over Currency Manipulation

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

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11 Comments

MaFyt 5 months ago

Kwanai imi vanhu veFIU, instead of investigating allegations of currency exchange rate fixing pabasa penyu moda kuenda kumarket kunova ndiko kunofana kupa guidline to your auction system, tikwanirei apo, iyaa kana mazvitadza ingotipai mari ino shandisika easy easy without being manipulated apoo iyaaaa


Law expert 5 months ago

Eish


Makelanwi 5 months ago

FOOLS INTELLIGENCE UNIT,mari yenyu yakuenda kumaBearer Cheques ndopamurikuita mainvestigations emutoriro ayo;nxaa😁


Godaz 5 months ago

Tosvikepi nenyemba idzodzi,mari isina value


Mr ndhlumbi 5 months ago

Financial Intelligence Unit (FIU) must be termed Fake Intelligence Unit. Why does it try to investigate schools & pharmacies who need the US$ for genuine reasons, when they are thousands of dealers selling US dollars in the streets everywhere. Hazvitombode Financial Intelligence zvoda force chete ngavagono shunga ma money changers ari pachena mutaundi. Plus mazuvano nashop mazhinji anoshandisa Black Market Rate


MuGrade 2 5 months ago

Money changers..agents of e system

Vladimir 5 months ago

They can't go after those vendors because those same people are put on the streets by banks including rbz. This is why no matter how they see people suffer because of this RTGS they won't remove it because they benefit more

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Sir🔥🔥🔥 5 months ago

Asi wamoda kti ashandise mari yenyu inoerekana yafizuka ndiyani ko iyeye ktaurisa too much especially prof avo umm vakuramba kti kushande ma us


Vybz Kartel 5 months ago

The RBZ is a very good story teller with no action.


WILLIAM SONBOY CHINEMBIRI 5 months ago

RBZ IS THE NAME ONLY. IT NEVER OPERATES LIKE IT USED TO DO. IF IT OPERATES LIKE WHAT IT USED TO DO WE COULD NOT HAVE HAD BLACK MARKET LIKE WE NOW HAVE.

WE FIND MONEY CHANGERS WITH NEW US$ IN THE MORNING AROUND 0600 HOURS WHERE WILL THEY HAVE GOTTEN IT FROM ?

{ BLUEPRINTS ARE EASIER SET THAN DONE }

YOURS SINCERELY
CDE KUFA KWANGU ZVAROVA
{ THE BUSH LAWYER }


MuGrade 2 5 months ago

More threats and less action..just like e Warriors



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