Contrary to popular perception, Stanbic did not withdraw their statement on changes to customer terms and conditions due to pressure from Advocate Fadzayi Mahere’s letter or any pressure exerted by social media users. Instead according to a credible source who works for Stanbic, the bank was leveraged into the decision by the Reverse Bank of Zimbabwe. Apparently the central bank was not amused that Stanbic was impacting the credibility of the Bond Notes by appearing to be protecting themselves from any liability arising from using them.
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