Govt To Announce Statutory Instrument To Protect Nostro Accounts

advertisement

Finance and Economic Development Minister Mthuli Ncube said Government will announce a Statutory Instrument to protect nostro accounts for individuals and the private sector.

Nostro account refers to an account that a bank holds in a foreign currency in another bank. Said Ncube:

Over and above the Nostro Deposit Protection Guarantee from Afreximbank, we are also reinforcing nostro foreign currency accounts with a statutory instrument to guarantee that these are private deposits and neither the Reserve Bank nor Government has any access to them.


Also Read:


More: Herald

WhatsApp Discussions

Click to subscribe to a Pindula WhatsApp Group:
https://chat.whatsapp.com/JaZ0lyL42OYIuRCCf6j4B4

If you find the group full, please notify us on +263 777 707 852 and we'll update the link.

Daily Email Brief

Get the top news delivered to your inbox every day.

Leave a Reply

Your email address will not be published.