Govt To Announce Statutory Instrument To Protect Nostro Accounts

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


Quick NetOne, Telecel, Africom, And Econet Airtime Recharge

If anything goes wrong, click here to enter your query.

News On WhatsApp

Tap to join WhatsApp Group(no discussions)
https://chat.whatsapp.com/LpsvWO7MalY0SOzC8euOWX

If you find the group full, please notify us on +263 777 784 119 or +263 732 464 000.

Comments

Back to top

Write a Comment

Your email address will not be published.