The Reserve Bank of Zimbabwe has announced that the temporary suspension of lending by banks has been lifted with immediate effect. In a statement, seen by Pindula News, the central bank’s governor, Dr John Panonetsa Mangudya said the suspension remains in effect for entities under investigation for abusing loan facilities. We present Mangudya’s statement below:
UPLIFTMENT OF TEMPORARY SUSPENSION OF LENDING BY BANKS
Further to the circular the Reserve Bank of Zimbabwe (the Bank) issued to banks on 9 May 2022, the Bank wishes to advise the public that the temporary suspension of lending services by banks has been lifted with immediate effect.
The lifting of the suspension does not apply to those entities that are under investigation by the Financial Intelligence Unit (FIU) for abusing loan facilities to the detriment of the economy. The FIU has accordingly advised all banks of the affected entities.
John P Mangudya Governor
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