RBZ guidelines for forex repatriation

Amnesty Directive RS151 amnesty circular

Government has issued directives pertaining to the repatriation of foreign currency and assets illegally or legally taken out of the country or purchased with externalised funds.

The directives are contained in a document being circulated by the Reserve Bank of Zimbabwe (RBZ) through local banks. (Click on link at the top.)

The order to retain externalised funds, minerals and other assets followed the establishment of a new government led by President Emmerson Mnangagwa after the ouster of ex-president Robert Mugabe in November 2017.

Individuals and organisations that externalised foreign currency and other assets have been given a February 2018 deadline, failure of which they may face prosecution.

Foreign currency externalisation by the elite has been cited as one of the major factors driving the current cash shortages.

 

0 Comments

Leave a Comment

FOLLOW US

GOOGLE PLUS

PINTEREST

FLICKR

INSTAGRAM

Social

%d bloggers like this: