Zimbabwe: RBZ Begins Moves to Cancel Trust, Royal Licences

THE Reserve Bank of Zimbabwe (RBZ) has initiated moves to cancel the operating licences of Trust and Royal banks, a move critics said was meant to pre-empt the two banks' fight against the amalgamation of their assets into the Zimbabwe Allied Banking Group (ZABG).

Sources indicated that the central bank had written to the two banks' curators informing them about its intention to close the two banks.

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