ZIMBABWE

Bureaux De Changes to trade through a centralised system

Bureaux De Changes will be required to trade only through an online retail foreign currency platform with the trades being fed in real-time to a central monitoring server, according to new rules which...

By Staff reporter | Published: 17 March 2020

FINANCIAL SERVICES

'Bureaus not allowed to transact with corporates'

Bureaux de Change are not allowed to transact with corporates or enter into twining arrangements with customers to prefund foreign currency purchases, according to a directive from the Reserve Bank of...

By Staff reporter | Published: 05 October 2019

BUSINESS NEWS

Bureaux de change align rate to interbank

Government, through the Reserve Bank of Zimbabwe (RBZ), has moved to refine the operations of bureaux de changes to align their foreign currency exchange rate with that of the official interbank marke...

By Staff reporter | Published: 24 September 2019

BUSINESS NEWS

RBZ scraps US$10 000 daily trading limit for bureaux de change

THE Reserve Bank of Zimbabwe (RBZ) has scrapped the US$10 000 daily trading limit for bureaux de change and the 2,5 percent maximum profit margin for banks, in a bid to make the interbank forex market...

By Staff reporter | Published: 26 June 2019

BUSINESS NEWS

Insurance bureau gets thumbs-up

THE proposed Insurance Crime Bureau in Zimbabwe must have the power to speedily prosecute cases brought before it because insurance fraud has been on the rise due to economic decay, analysts have said...

By Staff reporter | Published: 02 May 2018

FINANCIAL SERVICES

Zimbabwe's Credit Bureau captures 97% loans

RESERVE Bank of Zimbabwe (RBZ) governor, John Mangudya, last week revealed that the Credit Reference Bureau (CRB) has now captured information on about 97 percent of all loans, a move expected to impr...

By Staff reporter | Published: 31 August 2017

BUSINESS NEWS

Bureau Veritas rejects $182m unsafe imports

BUREAU Veritas, a global standards firm contracted by the Government to carry out consignment based assessment of imports, has rejected $182 million worth of sub-standard goods destined for Zimbabwe s...

By Staff reporter | Published: 07 August 2017

FINANCIAL SERVICES

RBZ credit bureau registers bank loans

More than 97 percent of loans in the banking sector have been registered with the RBZ's credit registry which went live in May, helping create a database that will enable subscribers to prudently ext...

By Staff reporter | Published: 07 August 2017

FINANCIAL SERVICES

RBZ slashes bureaux de change registration fees

The Reserve Bank of Zimbabwe (RBZ) has revised downwards registration fees for bureaux de change operators to enhance the ease of doing business and foster financial inclusion.Concerned with the limit...

By Staff reporter | Published: 12 July 2017

BUSINESS NEWS

RBZ urged to set up a credit bureau

The Reserve Bank of Zimbabwe has been urged to expedite the setting up of the Credit Reference Bureau which will help enhance credit risk management given the increase in non-performing loans.The Cred...

By Staff reporter | Published: 04 July 2014

OPINION

Credit bureaus crucial for financial stability

In  a modern economy, economies are usually run on credit with corporates, individual, societies and clubs providing credit to one another. A cycle of credit is thus created in an economy where e...

By Sanderson Abel | Published: 12 December 2013

FINANCIAL SERVICES

Industry calls for joint credit bureau

Plagued by high non-performing loan and debtors books, banks and retailers are pushing for the creation of a credit bureau, businessdigest reported.This comes as it emerged banks and retailers are con...

By Staff reporter | Published: 20 September 2013

BUSINESS NEWS

Credit bureau needed in Zimbabwe

TRUWORTHS Zimbabwe says the absence of a credit bureau in Zimbabwe was hampering efforts to reign-in bad debtors.Speaking at the presentation of the company's financial results for the interim period...

By Staff reporter | Published: 10 June 2013
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