RBZ lifts Metbank suspension
BUSINESS REPORTER
The Reserve Bank of Zimbabwe (RBZ) has lifted the suspension of Metbank Limited and allowed it to operate as an authorised dealer after it paid a fine for breaching Exchange Control regulations relating to trading in foreign currency.
In a statement yesterday, RBZ governor John Mangudya said Metbank has been cleared to trade foreign currency.
“The Reserve Bank of Zimbabwe wishes to advise the public that it has lifted the suspension of Metbank Limited’s authorised dealership licence with immediate effect.
“The lifting of the suspension follows the conclusion of investigations relating to foreign exchange trading which has culminated in the imposition of an administrative fine against Metbank Limited for breaching Exchange Control Regulations,” Mangudya said.
Simbisa Brands Private Limited’s money transfer service branded InnBucks is yet to resume operations as it is yet to regularise its operations since its suspension on April 20 2022.
The Reserve Bank of Zimbabwe also suspended Rolink Finance Private Limited from operating as a bureau de change for violating Exchange Control regulations.
As a result of these violations, Rolink Finance was fined US$120 000 or the equivalent in Zimbabwe dollar.
