Business / Economy
Zimdollar account holders to be compensated
20 Dec 2013 at 10:42hrs | Views
Zimbabweans who lost their Zimdollar savings will be compensated next year as $20 million would be availed to financial institutions, Finance Minister Patrick Chinamasa revealed yesterday during his 2014 National Budget speech presentation in Harare.
Chinamasa said all account holders would be compensated.
"It is imperative, that the Zimbabwe dollar is demonetised and that Zimbabwe dollar balances, including Zimbabwe dollar Paid Up Permanent Shares (PUPS) balances are converted to US dollars for those accounts in financial institutions' books as at 31 January 2009.
"This measure, apart from reassuring the public that the multi-currency system is here to stay, will go a long way in compensating the public who lost their money as a result of hyper-inflation.
"An indicative amount of $20 million is required for this purpose" he said.
Chinamasa said all account holders would be compensated.
"It is imperative, that the Zimbabwe dollar is demonetised and that Zimbabwe dollar balances, including Zimbabwe dollar Paid Up Permanent Shares (PUPS) balances are converted to US dollars for those accounts in financial institutions' books as at 31 January 2009.
"This measure, apart from reassuring the public that the multi-currency system is here to stay, will go a long way in compensating the public who lost their money as a result of hyper-inflation.
"An indicative amount of $20 million is required for this purpose" he said.
Source - zimbabwefocus
