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).

1. 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.
2. The accounts talked about in bullet point 4 are those of employees, not the employer.
3. 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.
4. Bullet 6 clearly refers to all bank accounts employer and employer that unutilised funds will be compulsory liquidated after 30 days.
5. Bullet point 7 is an instruction to banks to ensure compliance.