Breaking: RBZ lifts lending suspension
Nevanji Munyaradzi Chiondegwa
The Reserve Bank of Zimbabwe has lifted the temporary suspension of lending services with immediate effect.
The suspension of lending rights, which followed President Mnangagwa’s statement on measures to stabilise the macroeconomic environment had been in place for 10 days.
In media interviews last week, Reserve Bank of Zimbabwe Governor Dr John Mangudya repeatedly said the measures are temporary.
True to his word, today he has announced the lifting of the suspension.
In a statement, Dr Mangudya said;
“Further to the circular the Reserve Bank of Zimbabwe( the Bank) issued to banks on 9 May 2022, the Bank wishes to advise the public that the temporary suspension of lending services by banks have been lifted with immediate effect,” said Dr Mangudya.
The lift of the ban, however, does not apply to those under probe.
“The lifting if the suspension does not apply to those entities that are under investigation by the Financial Intelligence Unit (FIU) for abusing loan facilities to the detriment of the economy. The FIU has accordingly advised banks of the affected entities,” added Dr Mangudya.
Loans help businesses with their capital needs and working capital.
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