{"id":28896,"date":"2020-10-14T21:32:15","date_gmt":"2020-10-14T19:32:15","guid":{"rendered":"https:\/\/www.africa-press.com\/zimbabwe\/?p=28896"},"modified":"2020-10-14T21:32:15","modified_gmt":"2020-10-14T19:32:15","slug":"banks-not-opening-local-usd-rtgs-accounts-rbz","status":"publish","type":"post","link":"https:\/\/www.africa-press.cc\/zimbabwe\/all-news\/banks-not-opening-local-usd-rtgs-accounts-rbz","title":{"rendered":"Banks Not Opening \u201cLocal USD RTGS Accounts\u201d RBZ"},"content":{"rendered":"<p>The RBZ has released the following statement debunking reports that local banks have started separating local USD accounts and international USD accounts.<\/p>\n<p>Read the full statement below:<\/p>\n<blockquote><p>SETTLEMENT OF FOREIGN CURRENCY TRANSACTIONS<\/p><\/blockquote>\n<div class=\"4vj20fI6\">\n<p>The Reserve Bank of Zimbabwe (\u201cthe Bank\u201d) has noted with concern reports circulating on social media platforms alleging that banks are opening new accounts for what is referred to as \u201clocal USD RTGS transactions\u201d. The Bank wishes to advise the public that such reports are false and misleading.<\/p>\n<p>As the public may be aware, the introduction of the multicurrency system in Zimbabwe in 2009, resulted in the banking sector facing challenges of settling United States Dollars (USD) transactions within the local market. To address these challenges, the Bank put in place, in 2009, a system to cater for the settlement of USD transactions to enable the smooth movement of funds and payments within the national economy<\/p>\n<p>The system allows for movement of USD across banks for all local transactions including interbank settlements, whilst payments to offshore beneficiaries are made through Authorised Dealers\u2019 correspondent banks. All such transactions are processed with the Authorised Dealers doing the necessary screening in order to ensure compliance with all the necessary Know Your Customer (KYC) and Customer Due Diligence (CDD) requirements, as well as other compliance processes and procedures.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The RBZ has released the following statement debunking reports that local banks have started separating local USD accounts and international USD accounts. Read the full statement below: SETTLEMENT OF FOREIGN CURRENCY TRANSACTIONS The Reserve Bank of Zimbabwe (\u201cthe Bank\u201d) has noted with concern reports circulating on social media platforms alleging that banks are opening new [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":13657,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,6],"tags":[653],"class_list":{"0":"post-28896","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-all-news","8":"category-economy","9":"tag-rbz"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.1 (Yoast SEO v24.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Banks Not Opening \u201cLocal USD RTGS Accounts\u201d RBZ - zimbabwe<\/title>\n<meta name=\"description\" content=\"The RBZ has released the following statement debunking reports that local banks have started separating local USD\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/banks-not-opening-local-usd-rtgs-accounts-rbz\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Banks Not Opening \u201cLocal USD RTGS Accounts\u201d RBZ\" \/>\n<meta property=\"og:description\" content=\"The RBZ has released the following statement debunking reports that local banks have started separating local USD\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/banks-not-opening-local-usd-rtgs-accounts-rbz\" \/>\n<meta property=\"og:site_name\" content=\"zimbabwe\" \/>\n<meta property=\"article:published_time\" content=\"2020-10-14T19:32:15+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/zimbabwe\/2019\/09\/x0811-1-1-RBZ-BUILDING.jpg.pagespeed.ic_.uJQMjFTA_l.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"680\" \/>\n\t<meta property=\"og:image:height\" content=\"380\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/banks-not-opening-local-usd-rtgs-accounts-rbz\",\"url\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/banks-not-opening-local-usd-rtgs-accounts-rbz\",\"name\":\"Banks Not Opening \u201cLocal USD RTGS Accounts\u201d RBZ - 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