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*RBZ Clarifies On Cash Withdrawals By Individuals From Nostro FCAs* *Follow Pindula on WhatsApp for daily new updates* https://whatsapp.com/channel/0029Va84dngJP21B2nWeyM3v?ij The Reserve Bank of Zimbabwe (RBZ) on Wednesday morning issued a statement to clarify the issue around cash withdrawals by holders of Nostro Foreign Currency Accounts (FCAs). This follows a directive issued by the Central Bank on Tuesday which has seemingly contradictory paragraphs, especially Paragraphs 3.4 and 4.3. ---------- *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* Cash on Delivery in Harare & Bulawayo. Tinotumira kwamuri inosvika. WhatsApp: 0️⃣7️⃣8️⃣3️⃣ 4️⃣5️⃣0️⃣ 7️⃣9️⃣3️⃣ ---------- The RBZ says that individuals are still able to withdraw their cash from their Nostro FCA accounts; > Cash withdrawals > For corporates, banks shall apply the KYC principle for any intended cash withdrawals. > The current withdrawal limit for individuals remains US$1000 per day. > Individuals are still able to withdraw their cash from their individual accounts and banks are, in line with international best practice, expected to apply the AML/CFT principles. > Further to our Directive, the Reserve Bank wishes to advise that contrary to certain information being circulated on social media, cash withdrawals by individuals are still permissible and the policy position hasn’t changed. _If you found this article useful_ *Please support Pindula by forwarding to friends and groups*
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