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*"RBZ's Approach To Fighting Money-Laundering Making The Bank Lose Credibility" - Economists* *Follow Pindula on WhatsApp for daily new updates* https://whatsapp.com/channel/0029Va84dngJP21B2nWeyM3v?ik Economists have argued that the Reserve Bank of Zimbabwe was fast losing credibility due to its anti-money-laundering strategies. These remarks are made a few days after the central bank had frozen bank accounts belonging to a Chinese-owned construction company, China Nanchang, on suspicion of injecting millions of dollars into the parallel market to buy foreign currency. ---------- Latest itel S24 available on Pindula: 128GB storage $119 USD WhatsApp +263783450793 ---------- Prior to that, RBZ had also frozen bank accounts belonging to Sakunda Holdings and a number of entities which were presumed to be fueling money-laundering in the country. Speaking to the Business Digest on Tuesday, economist Gift Mugano said that recent developments show that the central bank has lost its credibility. He said: > I would say the bank should first think carefully and cautiously before making critical announcements as it is running the risk of being embarrassed. Let’s go back to the days of Acie Lumumba’s ranting on social media, which saw the arrest of RBZ officials who were later let go. The Sakunda issue, now this. Could it be that the special investigation unit is hitting the wrong people and companies? The bank is losing credibility. It’s failing to enforce or police anyone. Some analysts have always argued that money-laundering will remain prevalent as long as there is a cash and foreign currency crisis in the country. More: The Independent 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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