Mako Jerera
Simbisa Brands have broken their silence on their suspension by the Reserve Bank of Zimbabwe on allegations of non-compliance with regulations.
The Reserve Bank of Zimbabwe (RBZ) ordered Simbisa Brands Pvt (Ltd), Innbucks to stop operating its money transfer platform on Wednesday with immediate effect over failure to regularise its operations.
In the releases statement, Simbisa Brands said they are keen on resolving the matter.
“InnBucks has been and remains engaged with the regulator in respect of its ADLA license. Regrettably, an impasse has occurred in respect of which the Simbisa Board is engaging the regulator with a view of achieving a speedy and amicable resolution,” Simbisa Brands said.
The company assured those who had money within their service that they will not lose out.
“Pending further statements, we assure you that funds held in the InnBucks accounts remain secure and all product purchases and cash withdrawals will be honoured as per regulations,” the company said.
InnBucks had become one of the country’s main US dollar transfer platforms, less than a year after its launch last year.
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