{"id":93483,"date":"2024-04-22T22:36:06","date_gmt":"2024-04-22T20:36:06","guid":{"rendered":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/financial-intelligence-unit-sanctions-11-companies-for-refusing-zig-payments"},"modified":"2024-04-23T02:05:26","modified_gmt":"2024-04-23T00:05:26","slug":"financial-intelligence-unit-sanctions-11-companies-for-refusing-zig-payments","status":"publish","type":"post","link":"https:\/\/www.africa-press.cc\/zimbabwe\/all-news\/financial-intelligence-unit-sanctions-11-companies-for-refusing-zig-payments","title":{"rendered":"Financial Intelligence Unit Sanctions 11 Companies For Refusing ZiG Payments"},"content":{"rendered":"

Africa-Press – Zimbabwe. <\/strong><\/span>The Reserve Bank of Zimbabwe (RBZ)\u2019s Financial Intelligence Unit (FIU) says it has frozen bank accounts of 11 companies for exchange control violations.<\/p>\n

Speaking to The Sunday Mail<\/b>, FIU director-general Oliver Chiperesa said some of the entities were trading exclusively in US dollars and refusing to transact in the new currency, Zimbabwe Gold (ZiG). Said Chiperesa:<\/p>\n

We froze bank accounts belonging to 11 entities, either for exchange rate violations or for trading exclusively in US dollars and refused to accept ZiG.<\/p>\n

We have started to take tough measures to send a strong message to those who are bent on undermining the new currency.<\/p>\n

The special operation is ongoing and we are rolling it out countrywide, targeting all major trading centres.<\/p>\n

He warned companies allegedly refusing to accept the ZiG under the pretext of reconfiguring their accounting systems, saying they have been given enough time to do so.<\/p>\n

Chiperesa said that rather than allow those firms to trade exclusively in US dollars, FIU will stop them from trading altogether until they have configured their systems.<\/p>\n

Speaking in a separate interview with The Sunday Mail, Central Bank Governor John Mushayavanhu warned companies insisting on trading exclusively in United States dollars they will face sanctions. He said:<\/p>\n

The FIU goes out into the market to monitor corporates as they trade.<\/p>\n

ZiG is legal tender and shops, companies and businesses should invoice their goods in either ZiG or US dollars because we are operating in a multi-currency system.<\/p>\n

But where we see companies refusing to accept ZiG, obviously the FIU is bound to take action.<\/p>\n

Such action includes freezing accounts, and also some corporates may be fined.<\/p>\n

The ZiG currency, which is said to be backed by gold and other precious metals, was introduced on 05 April to stabilise the volatile exchange rate.<\/p>\n

However, traders still prefer United States dollars and most of those who accept ZiG payments use a rate significantly different from the official rate.<\/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)\u2019s Financial Intelligence Unit (FIU) says it has frozen bank accounts of 11 companies for exchange control violations. Speaking to The Sunday Mail, FIU director-general Oliver Chiperesa said some of the entities were trading exclusively in US dollars and refusing to transact in the new currency, Zimbabwe […]<\/p>\n","protected":false},"author":84,"featured_media":93482,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,6],"tags":[1493,2189,6019,19],"class_list":{"0":"post-93483","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-all-news","8":"category-economy","9":"tag-africa-press","10":"tag-africa-press-zimbabwe-2","11":"tag-bank-accounts","12":"tag-zimbabwe"},"yoast_head":"\nFinancial Intelligence Unit Sanctions 11 Companies For Refusing ZiG Payments - zimbabwe<\/title>\n<meta name=\"description\" content=\"The Reserve Bank of Zimbabwe (RBZ)\u2019s Financial Intelligence Unit (FIU) says it has frozen bank accounts of 11 companies ...\" \/>\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\/financial-intelligence-unit-sanctions-11-companies-for-refusing-zig-payments\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Financial Intelligence Unit Sanctions 11 Companies For Refusing ZiG Payments\" \/>\n<meta property=\"og:description\" content=\"The Reserve Bank of Zimbabwe (RBZ)\u2019s Financial Intelligence Unit (FIU) says it has frozen bank accounts of 11 companies ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/financial-intelligence-unit-sanctions-11-companies-for-refusing-zig-payments\" \/>\n<meta property=\"og:site_name\" content=\"zimbabwe\" \/>\n<meta property=\"article:published_time\" content=\"2024-04-22T20:36:06+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-04-23T00:05:26+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2024\/04\/sm_1713814232.220898.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"640\" \/>\n\t<meta property=\"og:image:height\" content=\"344\" \/>\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\/financial-intelligence-unit-sanctions-11-companies-for-refusing-zig-payments\",\"url\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/financial-intelligence-unit-sanctions-11-companies-for-refusing-zig-payments\",\"name\":\"Financial Intelligence Unit Sanctions 11 Companies For Refusing ZiG Payments - 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