News / National
Bond notes fast fading colour
02 Dec 2016 at 03:59hrs | Views
A cross section of Zimbabweans have claimed that the controversial bond notes are fast fading its colour.
The notes just came into circulation on Monday.
The Reserve Bank of Zimbabwe (RBZ) has released an initial $10 million worth of bond notes in small denominations of $2 and $5, more cash is to be gradually availed in the coming weeks and months.
Pictures of 'faded' notes have been posted on various media platforms.
It raised speculation that they are printed in the country.
This week, vice president Emmerson Mnangagwa told legislators that government won't reveal the printing source.
Below are some of the selected post gleaned on social media platforms :
@CitizensZW said "Bond note colours rubbing off. Avoid getting it wet. Rate falling on first day".
@ZimboFacts said "The ink used to print the #BondNotes is already fading after 2 days in circulation".
Meanwhile, some banks on Thursday reportedly reduced daily withdrawal limits on bond notes to a meagre $25.
@DemorganNatasha said "Thought bonds are to the aid $ crisis?Stanbic reduced their withdrawals today $50USD 25bond per day really?"
Alpha Media Holdings chairman Trevor Ncube said "When we started AMH board meeting this morning our bank daily cash withdrawal was $300. This has just been reduced to $150. #BondNotes
He added "Zimbabwe #CashCrisis worsened this week following introduction of #BondNotes . Case of bad money drives out good".
@rmapumula said "Chaos at OK 1st street as OK stops receiving #BondNotes due to counterfeits. Says they are waiting for the Security features sheet from RBZ".
@BrezhMalaba posted saying "Many shops, including major supermarkets chains OK and TM, are rejecting bond notes. Mangudya has botched this".a
The notes just came into circulation on Monday.
The Reserve Bank of Zimbabwe (RBZ) has released an initial $10 million worth of bond notes in small denominations of $2 and $5, more cash is to be gradually availed in the coming weeks and months.
Pictures of 'faded' notes have been posted on various media platforms.
It raised speculation that they are printed in the country.
This week, vice president Emmerson Mnangagwa told legislators that government won't reveal the printing source.
Below are some of the selected post gleaned on social media platforms :
@ZimboFacts said "The ink used to print the #BondNotes is already fading after 2 days in circulation".
Meanwhile, some banks on Thursday reportedly reduced daily withdrawal limits on bond notes to a meagre $25.
@DemorganNatasha said "Thought bonds are to the aid $ crisis?Stanbic reduced their withdrawals today $50USD 25bond per day really?"
Alpha Media Holdings chairman Trevor Ncube said "When we started AMH board meeting this morning our bank daily cash withdrawal was $300. This has just been reduced to $150. #BondNotes
He added "Zimbabwe #CashCrisis worsened this week following introduction of #BondNotes . Case of bad money drives out good".
@rmapumula said "Chaos at OK 1st street as OK stops receiving #BondNotes due to counterfeits. Says they are waiting for the Security features sheet from RBZ".
@BrezhMalaba posted saying "Many shops, including major supermarkets chains OK and TM, are rejecting bond notes. Mangudya has botched this".a
Source - Byo24News
