HomeNewsRBZ official dismisses new bond notes reports

RBZ official dismisses new bond notes reports

-

RESERVE Bank of Zimbabwe (RBZ) deputy governor Kupukile Mlambo has dismissed as false, social media reports that the central bank is introducing new bond notes in order to catch off-guard those holding on to huge sums of money.

By Nokuthaba Dlamini

The central bank said, instead, there were plans to introduce higher denomination coins to counter black market practices.

False RBZ Press statements that circulated on WhatsApp and Facebook claimed the central bank would release new bond notes with effect from November this year.

Mlambo was then quizzed on the matter, which had triggered panic nationwide and whether the claims were true or a hoax during the Institute of Administration and Commerce conference in Victoria Falls.

“The bank dismisses the statements in their entirely as false, irresponsible and malicious. There was nothing like that. As you could see, the message was not professional. Bond notes have no expiry date and we will continue to use them,” he said.

“The central bank has no Twitter account or some sorts of accounts, so any communication coming from those platforms are null.”
The viral message urged people to deposit their money before November 1.

“The Zimbabwean central bank has come up with new notes to be used other than the bond note, which has devaluated. Any deposits after November 1 will lead to your loss. The RBZ is on record of trying to promote the use of plastic money and mobile transfer platforms such as One Wallet, Telecash and Ecocash,” reads the fake message.

“Please pass your message to all your relatives and friends especially to those who are in remote areas. Let us all go and deposit our bond notes to the banks before they become valueless. Do not be caught off-guard hoarding the bond notes until they become valueless.”

Mlambo said the United States dollar was still being used and urged people to freely use the rand, pound, euro and other legalised foreign currencies.

He said the central bank was planning to introduce new coins to counter black market practices.

“Government does not promote the black market and we are still in talks to maybe, perhaps introduce new bond coins in $2 and $5 so that we curb the business of the black market. These are much heavier for one to sit in the street with. We hope the policy will be implemented soon.”

Recent Posts

Stories you will enjoy

Recommended reading