"No Questions Will Be Asked": RBZ Assures People Who Want To Return Externalised Funds

In a statement, Reserve Bank of Zimbabwe (RBZ) governor John Mangudya instructed banks not to question people returning externalised funds and assets for the next three months.

This comes after President Emmerson Mnangagwa gave individuals and companies a three-month period to return all externalised funds and asserts. Said Mangudya:

Pursuant to the amnesty in respect of illegally expatriated foreign exchange and assets (gold, precious stones, currency, securities) granted in terms of the Presidential Powers Temporary Measures (Amendment of Exchange Control Act Regulations, SI 145 of 2017) the Reserve Bank of Zimbabwe wishes to advise of the administrative arrangements that will apply for repatriation of the expatriated foreign exchange and assets during amnesty.

The administrative arrangement will also apply to legitimately expatriated foreign exchange and assets. Illegally expatriated foreign exchange and assets should be declared to the bank or affected person’s bankers on a no questions asked basis

An application for amnesty should be filled with the bank or through the affected person’s bankers and such application will be treated with confidentiality.

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