Sundaymail Editor
Online Reporter
The Reserve Bank of Zimbabwe (RBZ)’s Financial Intelligence Unit (FIU) has opened investigations against some schools and pharmacies involved in currency manipulation.
In a statement on Wednesday, RBZ governor, Dr John Mangudya, said offenders risk paying heavy fines or having their bank accounts frozen.
“The Reserve Bank of Zimbabwe would like to advise the public that the Financial Intelligence Unit is currently investigating cases of breaches of the Bank Use Promotion Act and currency manipulations by some business entities,” he said.
“The breaches have become particularly pronounced and prevalent at some schools and pharmacies.
“The FIU will deploy all tools at its disposal to deal with such malpractices including the imposition of fines, freezing of bank accounts and blacklisting from the enjoyment of financial services.”
Bongani Ndlovu
Online Reporter