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*RBZ speaks on new bank charges & continued bank queues despite introduction of bond notes* *Follow Pindula on WhatsApp for daily new updates* https://whatsapp.com/channel/0029Va84dngJP21B2nWeyM3v?hb Speaking to The Sunday Mail, Reserve Bank of Zimbabwe governor Dr John Mangudya said that the central bank is looking into doing away with fixed bank charges for ATM withdrawals. Mangudya said: > Banks are using a model where they charge a fixed fee for withdrawals at US$2,50 from Automated Teller Machines, regardless of how much a client is withdrawing. This has resulted in a mismatch between the cost of individual transactions and the money withdrawn by a customer. What we want is a model where the cost of withdrawal is proportionate to the amount of money that has been withdrawn. We are proposing that we move away from fixed withdrawal charges and move towards progressive charges that allow for financial inclusion. He also spoke on continued bank queues which many hoped would be a thing of the past after the introduction of bond notes and said that the situation will improve soon when the notes start circulating. He said: ---------- Latest itel S24 available on Pindula: 128GB storage, 4GB RAM $119 USD WhatsApp: +263715068543 Calls: 0772464000 Buy Online: https://www.pindula.co.zw/market/itel-s24-128gb-22-20240426142756795795/?s=wanews ---------- > Queues at banks will start subsiding when notes begin revolving in the economy. When people and businesses begin banking their money, we will return to a situation of general equilibrium. It is a continuous process and one that we are monitoring closely. We will be publicising a report on the impact of the bond notes in two to three weeks’ time. More: Sunday Mail _If you found this article useful_ *Please support Pindula by forwarding to friends and groups*
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