RBZ lifts Rolink Finance suspension

Business Reporter
THE Reserve Bank of Zimbabwe has lifted the suspension of Rolink Finance from foreign currency exchange trading after it was barred in April.

In April, the apex bank slapped the bureau de charge operator, with suspension from buying and selling foreign currency and processing international and domestic foreign currency transactions until further notice.

However, in a notice dated 1 August, Central Bank Governor, Dr John Mangudya, said the suspension was lifted on 26 July following investigations.

“The Reserve Bank of Zimbabwe wishes to advise the public that it has lifted the suspension of Rolink Finance (Private) Limited’s authorised dealership licence with effect from 26 July 2022, ” 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 Rolink Finance (Private) Limited for breaching Exchange Control Regulations, which Rolink Finance (Private) has paid in full.”

Rolink Finance was fined US$120 000 or its equivalent in Zimbabwe dollar for breaching Exchange Control regulations.

MetBank, which was suspended together with InnBucks and Rolink Finance had its suspension lifted in June.

InnBucks which operates under Simbisa Brands is still under suspension.