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*RBZ Clarifies On Cash Withdrawals By Individuals From Nostro FCAs* *Follow Pindula on WhatsApp for daily new updates* https://whatsapp.com/channel/0029Va84dngJP21B2nWeyM3v?cd The Reserve Bank of Zimbabwe (RBZ) on Wednesday morning issued a statement to clarify the issue around cash withdrawals by holders of Nostro Foreign Currency Accounts (FCAs). This follows a directive issued by the Central Bank on Tuesday which has seemingly contradictory paragraphs, especially Paragraphs 3.4 and 4.3. ---------- 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_ ---------- The RBZ says that individuals are still able to withdraw their cash from their Nostro FCA accounts; > Cash withdrawals > For corporates, banks shall apply the KYC principle for any intended cash withdrawals. > The current withdrawal limit for individuals remains US$1000 per day. > Individuals are still able to withdraw their cash from their individual accounts and banks are, in line with international best practice, expected to apply the AML/CFT principles. > Further to our Directive, the Reserve Bank wishes to advise that contrary to certain information being circulated on social media, cash withdrawals by individuals are still permissible and the policy position hasn’t changed. 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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