RBZ Issues Statement On Picture Of ‘Money Changer’ Holding Bundles Of $10 Notes

The Reserve Bank of Zimbabwe (RBZ) says it has noted a picture circulating on social media showing a person holding bundles of ZW$10 notes which were released into circulation on Tuesday this week.

In a statement, the Central Bank said it has established that, based on the serial numbers on the notes, the $10 bills were paid out to a customer by First Capital Bank.

Here is the statement in full:

PICTURE CIRCULATING ON SOCIAL MEDIA SHOWING BUNDLES OF NEW ZW$10 NOTES

The Reserve Bank of Zimbabwe (the Bank) has noted a picture circulating on social media showing a person holding bundles of ZW$10 notes, which banks started paying out to customers from the 19th of May, 2020.

After comparing the serial numbers shown in the social media picture against our cash disbursement records, we established that at least some of the cash shown in the picture was part of cash disbursed by the Bank to First Capital Bank Limited (First Capital Bank). First Capital Bank then paid out this cash to a customer.

Investigations have established that, in paying out the cash to its customers, First Capital Bank adhered to the ZW$1000 limit per customer.

It is, therefore, likely that the person shown in the picture holding the cash bundles, may have received the cash from different people, either as an illegal money changer or in the course of business.

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