Business / Economy
RBZ in Bond notes dilemma, no design yet
02 Oct 2016 at 08:18hrs | Views
The Reserve Bank of Zimbabwe might struggle to meet its bond notes end of October introduction deadline as they have not been printed.
A senior central bank official said even the designs are still to be finalised.
Court challenges have citing as the major reason for the delay.
"Once an issue is before the courts, you are conflicted. We were waiting for the ruling on bond notes before vigilant marketing and now that it has been resolved we can focus on explaining what these notes are, their features and relation to the US dollar.
When we are now ready to issue out the notes, you will start seeing more of the adverts," said RBZ deputy director International Banking and Portfolio Management Ernest Matiza.
The bond notes are expected to be in $2 and $5 denominations.
A senior central bank official said even the designs are still to be finalised.
Court challenges have citing as the major reason for the delay.
"Once an issue is before the courts, you are conflicted. We were waiting for the ruling on bond notes before vigilant marketing and now that it has been resolved we can focus on explaining what these notes are, their features and relation to the US dollar.
When we are now ready to issue out the notes, you will start seeing more of the adverts," said RBZ deputy director International Banking and Portfolio Management Ernest Matiza.
The bond notes are expected to be in $2 and $5 denominations.
Source - Byo24News
