5 Need-to-know things about Bond Notes release announcement

The Reserve Bank of Zimbabwe has finally announced that the controversial Bond Notes will be released on Monday 28 November 2016. For those that haven’t read through the full statement by the RBZ, here are 5 Need-to-know things about the Bond Notes:
 
 

1. Normal Banking Channels. Not limited to exporters and remittance recipients

The Notes will be released to your bank. Even though the RBZ says the notes will only be funding export and remittances incentives, if you are neither an exporter or a remittance recipient, you will still find yourself with Bond Notes quickly enough. Those that get the Bond Notes in their accounts will use them to pay for things, you will get them as change. The incentive mantra is just a way of introducing them.
 
 

2. As a start, the bond notes will be released in the denomination of $2 only

The total value of Bond Notes in circulation will be $10 million according the the RBZ. And all of them will be $2 notes. However, the RBZ is also release $2 million in $1 Bond Coins.