PARLIAMENT yesterday grilled Bankers’ Association of
Zimbabwe (BAZ) president Webster Rusere over a circular which was recently
leaked on social media by one of their members announcing that the Reserve Bank
of Zimbabwe (RBZ) will control withdrawal of foreign currency from people’s
nostro accounts.
Rusere had appeared before the Felix Mhona-led
Parliamentary Portifolio Committee on Budget and Finance to speak on the 2020
budget proposals.
Mhona said the internal memo had caused a lot of panic
among nostro account-holders.
Last week, the leaked internal memo from a commercial bank
revealed that the RBZ had instructed banks that Zimbabweans employed by
exporting companies and who earn their salaries in foreign currency will now
have their money converted into local currency, or only withdraw in forex after
applying and getting approval from the central bank.
“This circular that found itself on social media was an
internal circular for a bank and it was commenting on approval for certain
requests made by some companies, and it only referred to foreign currencies
funded by export proceeds and does not relate to free funds,” Rusere said.
“This was an internal circular meant to guide on some
conditions of approval, but unfortunately people chose to read one line which
talked of disposal of those foreign currency assets. It does not relate to free
funds,” he said. Newsday
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