Reserve Bank of Zimbabwe (RBZ) Governor John Mangudya said that they are carrying investigations and non-compliant banks will be charged under the Abuse of Public Office Act and would be liable to long prison terms if convicted.
Mangudya also urged branch managers to monitor tellers and their activities. Said Mangudya:
Non-compliant banks should be warned. They will be charged under the Abuse of Public Office Act and would be liable to long prison terms if convicted. It is possible to manipulate the system. However this is a human issue and we entrust the sector in the hands of capable, reliable and trustworthy people. I urge branch managers to monitor tellers and their activities and bank management to be honest and credible themselves. There are too many tellers as each bank will have a number of branches across the country, so really for our teams to really follow up on each and every teller would be tedious, we are just entrusting the job in people whom we hope were hired on integrity and met recruitment requirements.
John Panonetsa Mangudya is an economist and the current Reserve Bank of Zimbabwe governor. Mangudya, who sits on many local and international boards .He was made RBZ governor after the expiry of Gideon Gono's term in 2014. He had been CBZ Holdings Ltd Chief Executive... Read More About John Mangudya
The Reserve Bank of Zimbabwe (RBZ) is the central bank of Zimbabwe. Its offices are located at number 80 Samora Machel Avenue in Harare. The Reserve Bank of Zimbabwe operates under the Reserve Bank of Zimbabwe Act, Chapter 22: 15 of 1964. The Act provides... Read More About Reserve Bank of Zimbabwe