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*RBZ Bans Locals From Buying Airline Tickets For Outside Relatives Using RTGS System* *Follow Pindula on WhatsApp for daily new updates* https://whatsapp.com/channel/0029Va84dngJP21B2nWeyM3v?bv The Reserve Bank of Zimbabwe (RBZ) has banned Zimbabweans who are resident in the country from buying airline tickets for relatives who are based outside the country using the Real Time Gross Settlement (RTGS) system. The central bank complained that locals were abusing the RTGS system by buying tickets for people whose flights originate and terminate outside the country. In a directive to banks, the RBZ said that such flights should be paid for using funds obtained outside the country. Part of the directive reads, ---------- *HOT DEALS:* *itel A70 - (128GB, 3GB RAM) $89,* *itel A70 - (256GB, 4GB RAM) $99* *itel P40 (128GB, 4GB), (6000mAh) $99* *itel P40 (64GB, 4G), (6000mAh) $93* *LATEST: itel S24 (128) $124; S24 (256GB) $159* Cash on Delivery in Harare & Bulawayo. Tinotumira kwamuri inosvika. WhatsApp: 0️⃣7️⃣8️⃣3️⃣ 4️⃣5️⃣0️⃣ 7️⃣9️⃣3️⃣ ---------- > Exchange Control has noted the increase in Real Time Gross Settlement (RTGS) transactions for the purchase of air tickets through a system called Sold Out Ticketed Outside, “SOTO”. This arrangement entails purchase of tickets by locals through RTGS on behalf of beneficiaries who will be outside the country and whose flights originates and terminates outside Zimbabwe. > In view of the need to efficiently and effectively manage foreign exchange, with immediate effect, travel agents or airlines operating in Zimbabwe shall only make use of local resources to process sales of airline tickets by locals on behalf of beneficiaries whose travel originates and terminates in Zimbabwe. Where the tickets are for flights outside Zimbabwe, funding should be from offshore. Exceptions to this policy shall require prior Exchange Control approval. _If you found this article useful_ *Please support Pindula by forwarding to friends and groups*
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