News
Market
Jobs
About
Contact
List Product
Register
Login
Generate
WhatsApp Message
*RBZ: Banks Directed To Surrender Excess Liquidity* *Follow Pindula on WhatsApp for daily new updates* https://whatsapp.com/channel/0029Va84dngJP21B2nWeyM3v?rd The Reserve Bank of Zimbabwe (RBZ) has directed banks to surrender their excess liquidity in return for Non-Negotiable Certificates of Deposit yielding zero (0) percent with effect from 4 June. As a result of the development, players in the financial sector have sounded the alarm likening it to the expropriation of liquidity. ---------- *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 ---------- In the past, the central bank has dabbled in quasi-fiscal activities, with devastating consequences for economic stability. With the 2023 general election drawing closer, the government will need massive funding. This comes after the central bank a fortnight ago recorded a sharp decline in reserve money only to recover a fraction last week. Reserve Bank of Zimbabwe: Reserve Money Increase RBZ: Reserve Money In Sharp Decline DOWNLOAD: RBZ Update On Reserve Money – 30 April 2021 Reserve Bank Of Zimbabwe: Reserve Money Increase RBZ: Reserve Money Update As Of 23 April 2021 DOWNLOAD: Reserve Bank Of Zimbabwe Reserve Money Update -PDF RBZ Update On Reserve Money 6 October 2020 Commenting on the banks’ protests, George Charamba, a Press Secretary in the Office of President Emmerson Mnangagwa suggested that the banks were also not giving interest to depositors. Responding to a post by The NewsHawks on Friday, Charamba said: > _You miss the glaring irony in this protest by banks??? What interest have they been giving depositors???? You can’t see that????_ Commenting on the same matter, one Tinashe Manyangadze @tinamanyangadze accused banks of “eating away depositors’ money purporting to be charging ‘bank charges.'” More: Pindula News _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