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*RBZ issues press statement warning businesses and individuals selling cash* *Follow Pindula on WhatsApp for daily new updates* https://whatsapp.com/channel/0029Va84dngJP21B2nWeyM3v?ln The Reserve Bank of Zimbabwe today issued a press statement warning business entities and individuals who are selling cash. In the statement RBZ governor Dr John Mangudya said, ---------- *Latest itel S24 now available on Pindula* $124 Cash on Delivery in Harare & Bulawayo. WhatsApp: 0️⃣7️⃣8️⃣3️⃣ 4️⃣5️⃣0️⃣ 7️⃣9️⃣3️⃣ ---------- > 2. Some business entities and individuals are reported to be selling cash, at a premium, against RIGS or bank transfers from the cash buyers’ accounts. 3. Some cash-generating businesses, especially retailers and wholesalers, have not been banking all their cash receipts, as required under the Bank Use Promotion Act [Chapter 24:24]. Instead, they offer the cash to companies and individual, who would make RIGS or inter-account transfers of the equivalent amount, plus an agreed premium, into the cash vendor’s account. As a result banks will be required to report all transactions suspected to involve selling or purchasing of cash, the RBZ said, while the central bank’s anti-money laundering unit will increase its monitoring. More: Ranga Mberi on Twitter _If you found this article useful_ *Please support Pindula by forwarding to friends and groups*
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