Chronicle Editor
Business Reporter
THE Reserve Bank of Zimbabwe has with immediate effect lifted the suspension of Metbank Limited from foreign currency exchange trading.
In April, the apex bank slapped the bank with suspension from buying and selling foreign currency and processing international and domestic foreign currency transactions until further notice.
However, in a notice on Wednesday, Central Bank Governor, Dr John Mangudya, said the bank’s suspension has been lifted following investigations.
“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,” said the Governor.
“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.”
MetBank had been suspended together with InnBucks, which operates under Simbisa Brands and another bureau de charge operator, Rolink Finance.
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