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RBZ to hold demonetisation awareness campaigns
14 May 2015 at 09:47hrs | Views
THE Reserve Bank of Zimbabwe (RBZ) governor John Mangudya has indicated that all operating banks have now submitted their Zimbabwe dollar bank balances.
The bank set aside $20 million for demonetisation process that would result in depositors being compensated their lost Zimbabwe dollar savings in banks.
Each individual bank account holder will receive $5 as the minimum compensation for the Zimdollars people lost when the country switched to the multi-currency regime in 2009.
"We are finalising the review of all bank balances and in June we will have awareness campaigns to pay both cash and bank balances.
"We will also pay for the cash that individuals have in their home so that we bring finality to the demonetisation process."
Mangudya said in his Monetary Policy statement in January that genuine normal bank accounts, other than loan accounts as at December 31 2008 would be paid an equal amount of $5 as a minimum.
The bank set aside $20 million for demonetisation process that would result in depositors being compensated their lost Zimbabwe dollar savings in banks.
Each individual bank account holder will receive $5 as the minimum compensation for the Zimdollars people lost when the country switched to the multi-currency regime in 2009.
"We will also pay for the cash that individuals have in their home so that we bring finality to the demonetisation process."
Mangudya said in his Monetary Policy statement in January that genuine normal bank accounts, other than loan accounts as at December 31 2008 would be paid an equal amount of $5 as a minimum.
Source - Byo24News
