Zimbabwe: Two Zim Banks Off Sanctions List

Agribank and the Infrastructure Development Bank of Zimbabwe (IDBZ) have now been fully removed from the US sanctions list, the American Department of the Treasury has announced, allowing them to do international business more easily and obtain lines of credit.

The two banks were put under US sanctions in July 2008. In April 2013 sanctions were partially lifted by the issuance of a licence permitting business with the two banks subject to limitations. In February 2016 they were removed from the sanctions list, but the licence requirements remained. These have now been removed with effect from today by the Office of Foreign Assets Control of the US Treasury.

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