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RBZ to Crack Whip On Auction Abusers
December 21, 2020
THE Reserve Bank of Zimbabwe (RBZ) says it will request the Financial Intelligence Unit (FIU) to close bank accounts of business entities that are pricing using exchange rates not linked to the ruling auction rate.
The central bank said it was aware of errant businesses in the habit of using exchange rates far removed from the ruling exchange rate despite obtaining US dollars from the auction system.
RBZ Governor Dr John Mangudya, addressing a Zimbabwe Chamber of Commerce(ZNCC) conference last week, also said the bank FIU will take action against businesses that are practising transfer pricing.
RBZ to crack whip on auction abusers herald.co.zw - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from herald.co.zw Daily Mail and Mail on Sunday newspapers.
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