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*FULL TEXT: RBZ Suspends Operating Licenses For Cash Twenty Four & Crediconnect For Engaging In Illicit Foreign Currency Activities* *Follow Pindula on WhatsApp for daily new updates* https://whatsapp.com/channel/0029Va84dngJP21B2nWeyM3v?vm The RZB has released the following statement announcing that it suspended the operating license for Cash Twenty Four And Crediconnect after they reportedly engaged in prohibited forex activities. Read the full statement below: ---------- *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 ---------- > Suspension of Operating Licences of Cash Twenty-Four (Pvt) Ltd (Bureau de Change) and Crediconnect (Pvt) Ltd (Microfinance Institution) for engaging in Illicit Foreign Currency Activities > The Reserve Bank of Zimbabwe (the Bank) wishes to advise the public of the suspension, with immediate effect, of the operating licences of the following institutions, licenced and supervised by the Bank: > (a) Cash Twenty-Four (Private) Limited > (b) Crediconnect (Private) Limited. > Cash-Twenty Four is licensed as a bureau de change in terms of the Exchange Control (Authorized Dealers with Limited Authority) Order, Statutory Instrument 104 of 2015 and Crediconnect is licenced as a credit-only (non-deposit-taking) microfinance institution, under the Microfinance Act [Chapter 24:29). > The Bank is in possession of information showing that the two institutions have been engaging in illicit foreign curre, transactions, which have been adversely affecting the economy. > The suspension of the institutions’ operating licences is with immediate effect, pending further investigations. If found guilty, the institutions will be liable to further regulatory action, which could result in cancellation of licence and / or criminal prosecution. > John P Mangudya Governor 9 April 2020 _If you found this article useful_ *Please support Pindula by forwarding to friends and groups*
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