{"id":41495,"date":"2021-06-05T20:33:37","date_gmt":"2021-06-05T18:33:37","guid":{"rendered":"https:\/\/www.africa-press.net\/zimbabwe\/?p=41495"},"modified":"2021-06-05T19:27:54","modified_gmt":"2021-06-05T17:27:54","slug":"rbz-banks-directed-to-surrender-excess-liquidity","status":"publish","type":"post","link":"https:\/\/www.africa-press.cc\/zimbabwe\/all-news\/rbz-banks-directed-to-surrender-excess-liquidity","title":{"rendered":"RBZ: Banks Directed To Surrender Excess Liquidity"},"content":{"rendered":"

Africa-Press<\/a> – Zimbabwe<\/a>. <\/strong><\/span>The Reserve Bank of Zimbabwe (RBZ) has directed banks to surrender their excess liquidity in return for Non-Negotiable Certificates of Deposit yielding zero (0) percent with effect from 4 June.<\/p>\n

As a result of the development, players in the financial sector have sounded the alarm likening it to the expropriation of liquidity.<\/p>\n

In the past, the central bank has dabbled in quasi-fiscal activities, with devastating consequences for economic stability.<\/p>\n

With the 2023 general election drawing closer, the government will need massive funding.<\/p>\n

This comes after the central bank a fortnight ago recorded a sharp decline in reserve money only to recover a fraction last week.<\/p>\n

Commenting on the banks\u2019 protests, George Charamba, a Press Secretary in the Office of President Emmerson Mnangagwa suggested that the banks were also not giving interest to depositors.<\/p>\n

Responding to a post by The NewsHawks on Friday, Charamba said:<\/p>\n

_You miss the glaring irony in this protest by banks??? What interest have they been giving depositors???? You can\u2019t see that????_<\/b><\/p>\n

Commenting on the same matter, one Tinashe Manyangadze @tinamanyangadze accused banks of \u201ceating away depositors\u2019 money purporting to be charging \u2018bank charges.’\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Zimbabwe. The Reserve Bank of Zimbabwe (RBZ) has directed banks to surrender their excess liquidity in return for Non-Negotiable Certificates of Deposit yielding zero (0) percent with effect from 4 June. As a result of the development, players in the financial sector have sounded the alarm likening it to the expropriation of liquidity. […]<\/p>\n","protected":false},"author":84,"featured_media":41494,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,6,35,15],"tags":[1493,2189,2641,1859,19],"class_list":{"0":"post-41495","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-all-news","8":"category-economy","9":"category-homepage-english","10":"category-twitter","11":"tag-africa-press","12":"tag-africa-press-zimbabwe-2","13":"tag-george-charamba","14":"tag-reserve-bank-of-zimbabwe-rbz","15":"tag-zimbabwe"},"yoast_head":"\nRBZ: Banks Directed To Surrender Excess Liquidity - zimbabwe<\/title>\n<meta name=\"description\" content=\"The Reserve Bank of Zimbabwe (RBZ) has directed banks to surrender their excess liquidity in return for Non-Negotiable C ...\" \/>\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\/rbz-banks-directed-to-surrender-excess-liquidity\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"RBZ: Banks Directed To Surrender Excess Liquidity\" \/>\n<meta property=\"og:description\" content=\"The Reserve Bank of Zimbabwe (RBZ) has directed banks to surrender their excess liquidity in return for Non-Negotiable C ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/rbz-banks-directed-to-surrender-excess-liquidity\" \/>\n<meta property=\"og:site_name\" content=\"zimbabwe\" \/>\n<meta property=\"article:published_time\" content=\"2021-06-05T18:33:37+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-06-05T17:27:54+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2021\/06\/img-60bbb3f61f9fe.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"551\" \/>\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\/rbz-banks-directed-to-surrender-excess-liquidity\",\"url\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/rbz-banks-directed-to-surrender-excess-liquidity\",\"name\":\"RBZ: Banks Directed To Surrender Excess Liquidity - 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