RBZ Bill tabled before Parliament

The Reserve Bank of Zimbabwe Amendment Bill that seeks to give legal effect to the introduction of bond notes that came into circulation on Monday this week was tabled by Finance and Economic Development Minister Patrick Chinamasa, before Parliament yesterday.

In tabling the Bill, Minister Chinamasa said the Bill would amend the RBZ Act to enable the central bank, to issue bond notes exchangeable at par value with the United States dollar, on the same basis that it previously issued bond coins. The Bill was referred to the Parliamentary Legal Committee to see if it is consistent with the Constitution.

The Parliamentary portfolio committee on Budget and Finance chaired by Mutoko South MP David Chapfika (Zanu-PF), has embarked on public hearings countrywide to seek people’s views on the RBZ Amendment Bill. The committee is expected to table its report before Parliament before debate on the Bill commence.