Home
About
Contact
Register
Login
Generate
WhatsApp Message
*RBZ: Banks Directed To Surrender Excess Liquidity* *Follow Pindula on WhatsApp for daily new updates* https://whatsapp.com/channel/0029Va84dngJP21B2nWeyM3v?hf The Reserve Bank of Zimbabwe (RBZ) has directed banks to surrender their excess liquidity in return for Non-Negotiable Certificates of Deposit yielding zero (0) percent with effect from 4 June. As a result of the development, players in the financial sector have sounded the alarm likening it to the expropriation of liquidity. ---------- Latest itel S24 available on Pindula: 128GB storage $119 USD WhatsApp +263783450793 ---------- In the past, the central bank has dabbled in quasi-fiscal activities, with devastating consequences for economic stability. With the 2023 general election drawing closer, the government will need massive funding. This comes after the central bank a fortnight ago recorded a sharp decline in reserve money only to recover a fraction last week. Reserve Bank of Zimbabwe: Reserve Money Increase RBZ: Reserve Money In Sharp Decline DOWNLOAD: RBZ Update On Reserve Money – 30 April 2021 Reserve Bank Of Zimbabwe: Reserve Money Increase RBZ: Reserve Money Update As Of 23 April 2021 DOWNLOAD: Reserve Bank Of Zimbabwe Reserve Money Update -PDF RBZ Update On Reserve Money 6 October 2020 Commenting on the banks’ protests, George Charamba, a Press Secretary in the Office of President Emmerson Mnangagwa suggested that the banks were also not giving interest to depositors. Responding to a post by The NewsHawks on Friday, Charamba said: > _You miss the glaring irony in this protest by banks??? What interest have they been giving depositors???? You can’t see that????_ Commenting on the same matter, one Tinashe Manyangadze @tinamanyangadze accused banks of “eating away depositors’ money purporting to be charging ‘bank charges.'” More: Pindula News 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*
Copy to clipboard
Feedback