RBZ con­tin­ues to en­gage pub­lic over bond notes

Chronicle (Zimbabwe) - - Business Chronicle - Bianca Mlilo Busi­ness Re­porter

THE Re­serve Bank of Zim­babwe (RBZ) says it is com­mit­ted to con­tin­ued en­gage­ments with mem­bers of the pub­lic over the bond notes even af­ter their in­tro­duc­tion into the mar­ket.

The RBZ in­tro­duced the notes yes­ter­day and they are backed by a $200 mil­lion loan fa­cil­ity from Africa Ex­port Im­port Bank (Afrex­im­Bank).

The mon­e­tary au­thor­ity has in­di­cated that $75 mil­lion worth of the bond notes will be cir­cu­lat­ing in the sys­tem by the end of next month.

The Na­tional Univer­sity of Sci­ence and Tech­nol­ogy held a pub­lic lec­ture on bond notes at the Small City Hall in Bu­l­awayo yes­ter­day with the ob­jec­tive of cre­at­ing a deeper un­der­stand­ing of the sur­ro­gate cur­rency.

Mem­bers of the pub­lic, aca­demics, rep­re­sen­ta­tives of churches and non­govern­men­tal or­gan­i­sa­tions, as well as the civic so­ci­ety at­tended the event.

Re­spond­ing to ques­tions from the floor, an of­fi­cial from the cen­tral bank’s pub­lic re­la­tions de­part­ment Mr Khum­bu­lani Shirichena said it was pos­si­ble for an in­di­vid­ual to ap­proach the RBZ to ex­change their bond notes, as they had put in place mea­sures for such cases.

“We will help you by re­fer­ring you to our sub­sidiary EasyLink (also known as Homelink) in as far as con­vert­ing your bond notes to for­eign cur­rency,” he said.

RBZ gov­er­nor Dr John Man­gudya is on record say­ing the trans­act­ing pub­lic would not be forced to use bond notes.

“If trav­el­ling, you can make ar­range­ments with your bank so that you can use your bank card out­side the coun­try, with a daily with­drawal limit,” Mr Shirichena added.

“Our door as RBZ is open to ev­ery­one, so you can come and put for­ward any com­plaints, con­cerns and sug­ges­tions you have. We will then take them for­ward for ad­dress­ing.”

He said they did not en­vis­age any ac­tiv­ity in the par­al­lel mar­ket as the amount of bond notes re­leased was too lit­tle to war­rant such at­ten­tion.

He also called on cit­i­zens to re­port any mal­prac­tice by busi­nesses, fol­low­ing re­ports that some busi­nesses were charg­ing ex­tra on Real Time Gross Set­tle­ment trans­ac­tions. — @Bian­caMlilo

Re­serve Bank of Zim­babwe of­fi­cial Mr Khum­bu­lani Shirichena (right) an­swers ques­tions from the pub­lic dur­ing a Na­tional Univer­sity of Sci­ence and Tech­nol­ogy (Nust) pub­lic lec­ture on bond notes at the Small City Hall in Bu­l­awayo yes­ter­day. Lis­ten­ing next to him is RBZ an­a­lyst Mr Du­mani Ndlovu and Nust lec­turer Dr Nqo­bizitha Dube.— Pic­ture by Den­nis Mudza­miri

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