BY SIMBA CHIKANZA| THE RESERVE BANK OF ZIMBABWE (RBZ) SAYS WE ARE ONLY CONTROLLING COMPANIES’ FOREX ACCOUNTS, NOT PEOPLE’S – ARE THEY TELLING THE TRUTH? HERE IS THE EVIDENCE.
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The below is a simple extrapolation (using simple day to day English) from the leaked RBZ memo which was debated in the parliamentary portfolio yesterday (see copies here).
- Who is the account holder referred to in bullet point number 3, the company or the employee? This holder’s account has already been raided by the Central Bank.
- The accounts talked about in bullet point 4 are those of employees, not the employer.
- Bullet 5 clearly refers to an employee’s bank account saying this is an account that has been credited with a salary, and that after a 30 day period the forex funds will be liquidated *that is – converted into Zim dollars.
- Bullet 6 clearly refers to all bank accounts employer and employer that unutilised funds will be compulsory liquidated after 30 days.
- Bullet point 7 is an instruction to banks to ensure compliance.