{"id":62142,"date":"2022-07-04T18:06:43","date_gmt":"2022-07-04T16:06:43","guid":{"rendered":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/reserve-bank-of-zimbabwe-rbz-announces-gold-coins-features-characteristics-ownership"},"modified":"2022-07-04T21:22:15","modified_gmt":"2022-07-04T19:22:15","slug":"reserve-bank-of-zimbabwe-rbz-announces-gold-coins-features-characteristics-ownership","status":"publish","type":"post","link":"https:\/\/www.africa-press.cc\/zimbabwe\/all-news\/reserve-bank-of-zimbabwe-rbz-announces-gold-coins-features-characteristics-ownership","title":{"rendered":"Reserve Bank Of Zimbabwe (RBZ) Announces Gold Coins Features, Characteristics, Ownership"},"content":{"rendered":"

Africa-Press – Zimbabwe. <\/strong><\/span>The Reserve Bank of Zimbabwe (RBZ) has announced the features and characteristics of gold coins which are to be introduced soon. In a statement seen by Pindula News, the apex bank\u2019s Governor, Dr John Mangudya said upon purchase, the buyer shall take physical possession of the coin and be issued with a Bearer Ownership Certificate. Reads the statement:<\/p>\n

Pursuant to the resolution of the Monetary Policy Committee of 24 June 2022 to introduce gold coins into the market as a store of value, the Reserve Bank of Zimbabwe (\u201cthe Bank\u201d) wishes to advise the public of the salient features and characteristics of the gold coin.<\/p>\n

The gold coin shall be called the Mosi-Oa-Tunya Gold Coin with the following characteristics:<\/p>\n

(i) Weight \u2014 one troy ounce.<\/p>\n

(ii) Purity \u2014 22 carats.<\/p>\n

(iii) Identification \u2014 Each coin will have a serial number.<\/p>\n

(iv) Ownership \u2013 Upon purchase, the buyer shall take physical possession of the coin and be issued with a Bearer Ownership Certificate. The buyer or holder of the coin may opt to place it in the custody of bankers of own choice in which case a safe custody certificate\/receipt will also be issued.<\/p>\n

(v) Liquidity and Tradability \u2013 The coin will have liquid asset status, that is, it will be capable of being easily converted to cash, and will be tradable locally and internationally. The coin may also be used for transactional purposes.<\/p>\n

(vi) Prescribed Asset Status \u2013 The coin will have prescribed asset status and institutional investors can use it to meet regulatory requirements for prescribed asset investments.<\/p>\n

(vii) Collateral \u2014 The coin can be used as security for loans and credit facilities.<\/p>\n

(viii) Buy Back Arrangement \u2014 At the instance of the holder, the Bank will buy back the coin.<\/p>\n

The gold coins will be available for sale to the public from 25 July 2022 in both local currency (ZW$) and United States Dollars (US$) (and other foreign currencies) at a price based on the prevailing international price of gold and the cost of production. The coins will be sold through the Bank and its subsidiaries, Fidelity Gold Refinery (Private) Limited and Aurex (Private) Limited, local banks and selected international banking partners. Entities selling the coins shall be required to apply Know Your Customer (KYC) principles.<\/p>\n

John P Manudya Governor 4 July 2022<\/p>\n

For More News And Analysis About Zimbabwe<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Zimbabwe. The Reserve Bank of Zimbabwe (RBZ) has announced the features and characteristics of gold coins which are to be introduced soon. In a statement seen by Pindula News, the apex bank\u2019s Governor, Dr John Mangudya said upon purchase, the buyer shall take physical possession of the coin and be issued with a […]<\/p>\n","protected":false},"author":84,"featured_media":62141,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,6,35,15],"tags":[1493,2189,10406,19],"class_list":{"0":"post-62142","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-reserve-bank-of-zimbabwe-rbz-gold-coins","14":"tag-zimbabwe"},"yoast_head":"\nReserve Bank Of Zimbabwe (RBZ) Announces Gold Coins Features, Characteristics, Ownership - zimbabwe<\/title>\n<meta name=\"description\" content=\"The Reserve Bank of Zimbabwe (RBZ) has announced the features and characteristics of gold coins which are to be introduc ...\" \/>\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\/reserve-bank-of-zimbabwe-rbz-announces-gold-coins-features-characteristics-ownership\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Reserve Bank Of Zimbabwe (RBZ) Announces Gold Coins Features, Characteristics, Ownership\" \/>\n<meta property=\"og:description\" content=\"The Reserve Bank of Zimbabwe (RBZ) has announced the features and characteristics of gold coins which are to be introduc ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/reserve-bank-of-zimbabwe-rbz-announces-gold-coins-features-characteristics-ownership\" \/>\n<meta property=\"og:site_name\" content=\"zimbabwe\" \/>\n<meta property=\"article:published_time\" content=\"2022-07-04T16:06:43+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-07-04T19:22:15+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2022\/07\/postQueueImg_45-62c33dd173e6a.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"999\" \/>\n\t<meta property=\"og:image:height\" content=\"753\" \/>\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=\"2 minutes\" \/>\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\/reserve-bank-of-zimbabwe-rbz-announces-gold-coins-features-characteristics-ownership\",\"url\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/reserve-bank-of-zimbabwe-rbz-announces-gold-coins-features-characteristics-ownership\",\"name\":\"Reserve Bank Of Zimbabwe (RBZ) Announces Gold Coins Features, Characteristics, Ownership - 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