RBZ suspends Access Forex domestic money transfer

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BY LORRAINE MUROMO
THE Reserve Bank of Zimbabwe (RBZ) has suspended Access Forex domestic money transfer services, a few days after shutting down Sambisa’s Inn-Bucks platform saying the companies had not regularized their services.

However, in a statement, Access Forex said although the central bank had clamped down on its local operations, their international operations were still up and running.

“Please note that international money transfers between South Africa and Zimbabwe and between the United Kingdom and Zimbabwe are not affected by the directive and remain available,” Access Forex said.

“Following communication from the Reserve Bank of Zimbabwe concerning our domestic money transfer service, Access Forex will be suspending local money transfers effective Friday 22 April 2022. While we are engaging the relevant authorities with the hope of resuming the service soon, we will therefore not be accepting any cash-ins in any of our branches or partner offices,” read the statement.

Director General, Financial Intelligence Unit Oliver Chipereze told NewsDay: “This is a matter entirely outside the FIU domain; RBZ through the Exchange Control Division licenses and regulates money transfer and bureau de change services.”

The RBZ corporate affairs division said since it is a sensitive issue, there were on-going meetings taking place on the forex auction system.