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*FULL THREAD: RBZ Statement On Payment Of Salaries In Forex From Export Receipts* *Follow Pindula on WhatsApp for daily new updates* https://whatsapp.com/channel/0029Va84dngJP21B2nWeyM3v?tr The Reserve Bank of Zimbabwe (RBZ) has moved to clarify some of the issues raised in the recently-promulgated Statutory Instrument 142 which scrapped the use of multi-currencies in domestic transactions. Posting on its official Twitter account, the Central Bank said; ---------- Latest itel A06 on Pindula: 32GB storage, 4GB RAM $69 USD WhatsApp: +263715068543 Calls: 0772464000 ---------- > An exporting entity that wishes to pay salaries in foreign currency from their export receipts, will need to seek prior Exchange Control approval. > The salaries are payable into the individual foreign currency accounts, which are treated as free funds. > Payment of salaries in foreign currency: Under the newly announced policy measures, salaries for NGOs remain payable in foreign exchange where funding for such NGOs, International Organisations, is from offshore. > In cases where the holders of such funds intend to settle domestic transactions, the funds shall be liquidated at the prevailing interbank market to facilitate payments in ZWL, which is now the legal tender. > All the other funds remain available to holders of such accounts and the balances can be utilised for purposes of settling international transactions. > Operation of Nostro Accounts: Funds currently held in all Nostro accounts will not be subjected to any involuntary liquidations, except in the case of FCA Exports, which are subject to the 30-day liquidation period. _If you found this article useful_ *Please support Pindula by forwarding to friends and groups*
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