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*Government drafts bill for Bond Notes introduction, an attempt to fix Mugabe's decree* *Follow Pindula on WhatsApp for daily new updates* https://whatsapp.com/channel/0029Va84dngJP21B2nWeyM3v?eh The finance ministry has drafted a Bill to amend the Reserve Bank of Zimbabwe Act to pave way for the impending introduction of bond notes. This follows President Mugabe’s decree in October amending the Reserve Bank of Zimbabwe Act to designate bond notes as legal tender, which lawyers have said was unconstitutional. The draft bill indicates government is not certain of the legality of the decree. A 16 November Government Gazette introducing the bill reads: ---------- Pindula is best experienced with the Android App. *Download APK here:* https://zero.pindula.co.zw/media/apps/apks/pindula23.apk _On Econet, Pindula does NOT use your data_ ---------- > “This Bill will amend the Reserve Bank of Zimbabwe Act (Chapter 22:15) (No. 5 of 1999) to enable the Reserve Bank, with the leave of the Minister responsible for finance to issue “bond notes” exchangeable at par with the United States dollar on the same basis that it previously issued bond coins. > At the same time, the opportunity is taken to validate the issuance of bond coins currently in circulation, ‘for the avoidance of doubt’ More: New Zimbabwe, The Herald itel A50 now available on Pindula at $84 64GB storage, 2GB RAM. _ideal for light usage_ _If you found this article useful_ *Please support Pindula by forwarding to friends and groups*
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