RBZ lifts suspension on lending services by banks

By Staff Writer

THE Reserve Bank of Zimbabwe (RBZ) has, with immediate effect, lifted the temporary suspension on lending services by banks.

Banks and companies had criticised the move, indicating that it threatened sustenance.

“Further to the circular issued to banks on May 9, 2022, the bank wishes to advise the public that the temporary suspension of lending services by banks has been lifted with immediate effect. The lifting of the suspension does not apply to those entities that are under investigation by the Financial Intelligence Unit (FIU) for abusing loan facilities to the detriment of the economy. The FIU has, accordingly, advised all banks of the affected entities,” Mangudya said.

The temporary suspension was heavily criticised by Parliamentarians, saying the move by RBZ had caused losses in several companies, including the Zimbabwe Stock Exchange (ZSE).

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