Business / Economy
Bond notes withdrawal limit increased to US$300 weekly
20 Dec 2016 at 11:04hrs | Views
The Reserve Bank of Zimbabwe (RBZ) has with immediate effect increased
maximum withdrawal limit of bond notes to $300 weekly and $100 daily for
individuals, it has been learnt.
Most banks are limiting clients to as low as $20 daily withdrawals.
However, the central bank said the low withdrawal limits greatly inconvenience the banking public hence the need to double the limits.
RBZ had pegged withdrawal limits of bond notes to a maximum of $50 per day and a maximum of $150 per week.
To date, a total of $29 million have been injected into the market.
However, there is growing demand for cash as desperate depositors are sleeping in queues in most central business district's of major cities and towns with some banks failing to give clients some money.
Most banks are limiting clients to as low as $20 daily withdrawals.
However, the central bank said the low withdrawal limits greatly inconvenience the banking public hence the need to double the limits.
To date, a total of $29 million have been injected into the market.
However, there is growing demand for cash as desperate depositors are sleeping in queues in most central business district's of major cities and towns with some banks failing to give clients some money.
Source - Byo24News
