Banks in Bulawayo defy RBZ directive by reverting to $50 withdrawal limit citing cash shortages

Some banks in Bulawayo have defied a directive from the Reserve Bank of Zimbabwe to have the minimal withdrawal limit pegged at $100, by reverting to $50 citing cash shortages.

A quick survey conducted by The Chronicle in Bulawayo yesterday revealed that banks such as ZB, CABS, National Building Society and Standard Chartered had reverted to giving $50 per day either in bond notes or in US dollars. The publication reports that Met Bank is only giving $300 weekly withdrawals. A source at ZB said that the withdrawal limit was determined by the number of people in the queue.

More: Chronicle

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