The Reserve Bank of Zimbabwe has instituted investigations
to establish the bank that issued out large sums of new bank notes.
The $2 notes are now circulating on social media, with
citizens questioning the integrity of the bank that released the money.
Critically, skeptics are beginning to doubt that the issuance of new notes and
coins by the RBZ will solve the prevailing shortage of physical cash.
After sending him the picture of new notes circulating on
social media, Dr Mangudya told The Herald that the central bank will
investigate the matter. He said the issuing bank will be fined heavily.
“Preliminary evidence suggests the money was released
through the formal banking system and the perpetrator will be heavily fined,”
said Dr Mangudya.
The beneficiary of the notes suspected to have been
corruptly released shielded serial numbers on the bulk of the notes except for
a few.
It is thought that the money is used by cartels in the
banking sector to oil the illegal market for forex. Further, the money is
offloaded to mobile money agents who charge ridiculous premiums that had gone
up 60 percent if one wanted to swap their RTGS for physical cash. Herald
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