Reserve Bank of Zimbabwe-RBZ raids foreign currency accounts during Zim lockdown?

The Reserve Bank of Zimbabwe (RBZ) has furiously denied reports that it has raided Foreign Currency Accounts (FCA) again. This follows a social media post on Twitter by an online publication which claimed that the monetary authorities may have raided FCA accounts. RBZ say this is not true but they were promptly reminded “Fact is transactions are taking long, banks citing pending RBZ approvals.”

RBZ full response:

The RBZ (the Bank) would like to urge members of the public to dismiss, with utmost contempt, the tweet alleging that the Bank has raided Foreign Currency Accounts (FCAs). The article further alleges that the Bank is withholding approval of withdrawal of free funds by NGOs.

No FCAs have been raided. Furthermore, holders of free funds will continue to have unfettered access to their funds in line with Statutory Instrument 85 of 2020.

Members of the public should, therefore, disregard the falsehoods being peddled through social media as such claims are meant to cause panic and despondency.