News
Market
Jobs
About
Contact
List Product
Register
Login
Generate
WhatsApp Message
*FULL THREAD: RBZ Statement On Payment Of Salaries In Forex From Export Receipts* *Follow Pindula on WhatsApp for daily new updates* https://whatsapp.com/channel/0029Va84dngJP21B2nWeyM3v?ly The Reserve Bank of Zimbabwe (RBZ) has moved to clarify some of the issues raised in the recently-promulgated Statutory Instrument 142 which scrapped the use of multi-currencies in domestic transactions. Posting on its official Twitter account, the Central Bank said; ---------- Pindula is best experienced with the Android App. *Download APK here:* https://zero.pindula.co.zw/media/apps/apks/pindula23.apk _On Econet, Pindula does NOT use your data_ ---------- > An exporting entity that wishes to pay salaries in foreign currency from their export receipts, will need to seek prior Exchange Control approval. > The salaries are payable into the individual foreign currency accounts, which are treated as free funds. > Payment of salaries in foreign currency: Under the newly announced policy measures, salaries for NGOs remain payable in foreign exchange where funding for such NGOs, International Organisations, is from offshore. > In cases where the holders of such funds intend to settle domestic transactions, the funds shall be liquidated at the prevailing interbank market to facilitate payments in ZWL, which is now the legal tender. > All the other funds remain available to holders of such accounts and the balances can be utilised for purposes of settling international transactions. > Operation of Nostro Accounts: Funds currently held in all Nostro accounts will not be subjected to any involuntary liquidations, except in the case of FCA Exports, which are subject to the 30-day liquidation period. 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
Give us Feedback
Full Name
WhatsApp Number
Feedback
Submit
Feedback