Tecno

Tecno

Tecno mobile phones

Open
HomeBusiness

Financial Intelligence Unit Sanctions 11 Companies For Refusing ZiG Payments

11 months agoMon, 22 Apr 2024 11:53:05 GMT
Share on FacebookShare on TwitterShare on LinkedIn
Financial Intelligence Unit Sanctions 11 Companies For Refusing ZiG Payments

The Reserve Bank of Zimbabwe (RBZ)’s Financial Intelligence Unit (FIU) says it has frozen bank accounts of 11 companies for exchange control violations.

Speaking to The Sunday Mail, FIU director-general Oliver Chiperesa said some of the entities were trading exclusively in US dollars and refusing to transact in the new currency, Zimbabwe Gold (ZiG). Said Chiperesa:

We froze bank accounts belonging to 11 entities, either for exchange rate violations or for trading exclusively in US dollars and refused to accept ZiG.

We have started to take tough measures to send a strong message to those who are bent on undermining the new currency.

The special operation is ongoing and we are rolling it out countrywide, targeting all major trading centres.

Click here: Pindula WhatsApp Channel
wa.me/channel/0029Vb4GVea90x2nCSDImS1b

 

He warned companies allegedly refusing to accept the ZiG under the pretext of reconfiguring their accounting systems, saying they have been given enough time to do so.

Chiperesa said that rather than allow those firms to trade exclusively in US dollars, FIU will stop them from trading altogether until they have configured their systems.

Speaking in a separate interview with The Sunday Mail, Central Bank Governor John Mushayavanhu warned companies insisting on trading exclusively in United States dollars they will face sanctions. He said:

The FIU goes out into the market to monitor corporates as they trade.

ZiG is legal tender and shops, companies and businesses should invoice their goods in either ZiG or US dollars because we are operating in a multi-currency system.

But where we see companies refusing to accept ZiG, obviously the FIU is bound to take action.

Such action includes freezing accounts, and also some corporates may be fined.

The ZiG currency, which is said to be backed by gold and other precious metals, was introduced on 05 April to stabilise the volatile exchange rate.

However, traders still prefer United States dollars and most of those who accept ZiG payments use a rate significantly different from the official rate.

More: Pindula News

Tags

60 Comments

Minister of Finance · 11 months ago
t's going to fail like all the other schemes that the government has come up with. And one reason for that is this, no one really has any trust in the government. If you're issuing a currency, you have to have some trust. I'm not saying a lot. But you have to have some trust.
Wyunad · 11 months ago
Thanks to Mr. Rohan Hassan from Fast Online financial who gave me a FUND of US$ 20,000 for my business. Contact him for FUNDs for your business, hospital bills, paying rent for houses or buying a car at 2% interest. very reliable, Contact him at EMAIL:mnkmoncsi@gmail.com
worried · 11 months ago
Job well-done. Svikai kuma rurals kwese
Money Launderer · 11 months ago
Zig mari is just a hip of junk
Mkomana · 11 months ago
It's now by force! Zvaramba kutambirika nyore kkk!Saka hameno kuti zvichadiii !
Anonymous · 11 months ago
Of course. But you must pay for you passport in USD.
Pasi Pamera Ziso · 11 months ago
FIU disable Zipit and its Instant money transfer cousins or else I will remove the I (intelligence part) from your name. Tipei tikuitirei, we have nothing to fear as we have nothing to lose.....The president can not run the country alone ipo Paine vanhu vakaenda kuchikoro. Chii chamusina chinokutadzisai kuita basa???😏😏😏
Zim-Sketch · 11 months ago
as the firms stop trading, so does the VAT collection for govt which is always in short of money to finance it's activities... actually a debt burdened govt closing it's source of funds....
🏃‍♀️ Chi baby Che Zanu 🌊 · 11 months ago
You're reading a textbook. Be practical. It won't happen that way. They shall resume trading vakutevedzera zvinodiwa. Don't dream about the 2002-3 era yema price control. Noo
Anonymous · 11 months ago
f they can't trade in the local currency, ghey should close shop and move to America.
Anonymous · 11 months ago
If only they could, they would.
Long play · 11 months ago
Aimbo servisa vamwe ukoko
Short time · 11 months ago
@chibaby Che ZANU chinoziva nzvimbo dzose dzamahur3 wena
Mdara Odza · 11 months ago
For as long as some goods are exclusively sold in US$ with the blessing of the state, it becomes hypocritical to then arrest small businesses who are refusing it.
🏃‍♀️ Chi baby Che Zanu 🌊 · 11 months ago
Parichashanda muchanyara
Mdara Odza · 11 months ago
ZiG is Bond Note in another name, the story of the bond note will be the same with the ZiG
@mdara odza · 11 months ago
the story of the bond note will never be the same as with zig mari because comparing the two madzibaba bond was way much better than zig mari kubvira pa launch.
cde Ernesto Che Guevara · 11 months ago
zuva petroleum irikumba ma zig company ya Jonh 2
☝️ · 11 months ago
even ED na akusiriya havasi kutambira.
Anonymous · 11 months ago
It's like naming the 'owners' of money changers you die before the cock craws, it's not like they unknown zanupf is known for kuteura ropa
🏃‍♀️ Chi baby Che Zanu 🌊 · 11 months ago
Ukataura sezvo une ruzivo ungatibatsira. It'd be further helpful ukapa ma authorities zita rako so that you can aid them in carrying their investigations.
Isheanesu · 11 months ago
kana isingatenge fuel hapana chembwaa saka haishandi nxaaaaaaa
☝️ · 11 months ago
haitengi wani Joyce mujuru akataura kut mapepa eku toireti
Failed State · 11 months ago
Kutamba nepfungwa dzevanhu nehupenyu hwevanhu kwatinoitirwa ne this useless zanu pf government
☝️ · 11 months ago
state yakave failed paya paka urayiswa vana vevhu na Robert ku DRC patove nema decades akati ooh tirimu failed state.
Legal · 11 months ago
Only 11
Gedion Gono wemaZillion dollars · 11 months ago
why not name the companies asi dzaita dzevakuru
Anonymous · 11 months ago
Because they don't exist. No money for FIU transport.
cutegel · 11 months ago
zvirikureva here kuti kubva 1980 gold ranga rakachengetwa kuRBZ its only 2.5tonnes. 44yrs a u serious
🏃‍♀️ Chi baby Che Zanu 🌊 · 11 months ago
Not at all. Rakataurwa iro rakanangana nemari iyo chete. Otherwise kukuudzai kuti mune goridhe or mari inosvika papi is a security threat. It can't be disclosed to the last point
⛹️🕺🏋️ · 11 months ago
aka 🖕 kanorwara chete aka
apes · 11 months ago
chibaby Che Zanu ****
Failed State · 11 months ago
. nepfungwa dzevanhu nehupenyu hwevanhu ne this useless zanu pf government..
Mohammed Zaka ali · 11 months ago
we shuld accept zig bcoz ukasatodaro apana kwatoenda ukabata zig jus imagine holding a south african rand ngatide mari yed
Yves Lauren · 11 months ago
The companies are nameless. Poleeeez
,,,,dott · 11 months ago
Zig to the world ,soon America vachange vakutambira Zig
· 11 months ago
Your world ends paBorder senetwork yeTelecel handiti?
Blaz · 11 months ago
Most Ladies of the night operating in the Avenues are refusing Zig
Chicken 🐓 · 11 months ago
Their accounts must be frozen too. Kkkkkk. Until they produce receptor ZiG transactions.
🏃‍♀️ Chi baby Che Zanu 🌊 · 11 months ago
Hakuna munhu anoramba mari. Muna Lyton muya vanotokumbira chero ma dollar chaiwo. Ukaenda nema Zig anotenga havarambi. Epelepe ku booster havarambi. Jongwe corner vanotora Zig because competition iri high.
🏃‍♀️ Chi baby Che Zanu 🌊 · 11 months ago
Hande pa mverechena unoona. Competition iriko. Vanhu vanotora mari. Havaite ma funnies
Whisperer · 11 months ago
Asi motengesawo nyinso mobva maziva maposhto kudaro
· 11 months ago
Muzivi wenzira yeparuware....
doug · 11 months ago
What of those not taking zig for petrol and diesel purchases?
ndunge · 11 months ago
zig haisikubhadhara jutii
🏃‍♀️ Chi baby Che Zanu 🌊 · 11 months ago
Shungu dzako doug ndedzekuti vanhu varambe ZiG? Unonyepa mhani. Ibva pano ne negative mentality yako
· 11 months ago
By the way, what happened to your MararaTGS yawaiti hakuna kwainoyenda?
Anonymous · 11 months ago
Do what they say, not what they do.
🏃‍♀️ Chi baby Che Zanu 🌊 · 11 months ago
Zig 🎶 🎶 🎶 🎶 🎶 Ras Caleb #Zim @44
Mohammed Zaka ali · 11 months ago
happy 44 yrz muzhara can u imagine apana chikunakidzabaa vana huríro rovoita mubulawayo kuna 13th uko chi deep number haaa its totaly unacceptable
🏃‍♀️ Chi baby Che Zanu 🌊 · 11 months ago
Kuna 11th avenue kwakagara kune mahur3 between RG and Samuel Parirenyatwa. Pana Cnr 12th and Tongogara pane flat rema short time. Kuna cognhut kuya kuzere ma coloured mahur3. Zvaingovako. Hazvinei ne economy. Prostitution is the oldest profession.
🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣 · 11 months ago
ko mummy kugara kwese uku taisaziva kuti ndko kubasa kwenyu zve amaiweee ma H for ED.....
@ Mohammed · 11 months ago
iwayo ma H for ED siya so.
,,,dott · 11 months ago
Staff Reporter Operators within the country’s fuel industry are expected to soon accept payments in local currency, as they will be mandated to fulfil half of their financial obligations on Quarterly Payment Dates (QPDs) using the ZiG currency. A source from the Reserve Bank of Zimbabwe (RBZ) who preferred anonymity said that this measure would increase demand and enhance the credibility of ZiG. “This mandate stipulates that fifty percent of their financial obligations be settled quarterly using the local currency, heralding a pivotal shift towards strengthening the ZIG currency's credibility and invigorating demand within the economic sphere,” said the source. The source disclosed ongoing discussions with the Zimbabwe Revenue Authority (ZIMRA) to bolster the technical readiness of its systems for seamless payment processing within the ZIG framework. “This collaborative endeavour aims to enhance ZIMRA's infrastructure, ensuring it possesses the necessary technological capabilities to facilitate efficient transactions and contribute to the smooth functioning of financial activities nationwide,” added the source. A member of the Liquid Petroleum Gas Safety Association of Zimbabwe, Wilson Chipato, emphasized the transformative impact of the policy, stating, "Companies will soon be mandated to allocate fifty percent of their tax payments in ZIG currency, thereby stimulating demand." Chipato elaborated on the mechanisms through which this could be achieved, including direct transactions such as purchasing fuel using ZIG currency or converting US dollars into ZIG currency through banks. According to Chipato, beyond fulfilling tax obligations, the policy will encourage companies to actively engage with the ZIG economy, potentially fostering its growth and stability. Chipato highlighted the ripple effect, noting, "With businesses actively seeking out ZIG for tax payments, its value is bound to surge, solidifying its position as a cornerstone in the financial landscape." This regulatory imperative to accept ZIG currency payments and settle financial commitments using it is poised to catalyse significant changes in the local economic landscape. By instilling confidence in the local currency and driving its adoption among businesses, it sets the stage for a paradigm shift towards a more robust and sustainable financial ecosystem.
🏃‍♀️ Chi baby Che Zanu 🌊 · 11 months ago
Vaudzei vagoziva vakarashika

Leave a Comment


Generate a Whatsapp Message

Buy Phones on Credit.

More Deals
Feedback