Zimbabwe: 'RBZ Doesn't Buy Forex From Streets'

Reserve Bank of Zimbabwe.

The Reserve Bank of Zimbabwe (RBZ) is offering a monetary reward, in line with its whistle blowing policy, to anyone who helps identify people claiming to be buying foreign currency on its behalf on the parallel market.

This was said by RBZ Governor Dr John Mangudya in a statement yesterday, following unsubstantiated claims that the bank had runners on the streets.

Anyone with information of people claiming to be representing the central bank has been asked to report to law enforcement agencies and/or the Financial Intelligence Unit (FIU).

Said Dr Mangudya: "It has come to the attention of the Reserve Bank of Zimbabwe that there are certain people posing and masquerading as bank officials in their foreign exchange dealings on the parallel market.

"The bank does not deal on parallel markets and does not and will not deploy any of its officers or employees on the foreign exchange parallel market as suggested by those defamers and impostors."

A number of people have also claimed to be buying forex for a number of State-owned entities and parastatals.

Last week, another imposter claimed to be buying forex on the parallel market on behalf of the Grain Marketing Board (GMB).

Dr Mangudya told The Herald that there was no reason for GMB to source forex on the parallel since it can get Letters of Credit (LCs) for any foreign payments.

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