Latest News Editor's Choice


News / National

BREAKING: Ecocash loses court case against RBZ

by Mandla Ndlovu
26 May 2020 at 13:56hrs | Views
High Court of Zimbabwe has thrown out an application by EcoCash for the restoration of thousands of agent lines terminated by the Reserve Bank of Zimbabwe for suspected illegal forex trading.

The court ruled that EcoCash had no standing to litigate on behalf of its agents and RBZ actions lawful adding that it cannot interdict a lawful act as that  interdict will prevent the RBZ from performing its functions in terms of the law.

In the chamber application, EcoCash had presented that they were not consulted before the RBZ made its decision and that the RBZ doesn't have the power to suspend EcoCash agents.

The court application also pointed out that the agents haven't committed a crime.


Source - Byo24News

Subscribe

Email: