‘Enact law to deal with money changers’

‘Enact law to deal with money changers’

Source: 'Enact law to deal with money changers' | Daily News

HARARE – The Anti-Corruption Trust of Southern Africa (ACT-SA) has urged President Emmerson Mnangagwa and law makers to come up with a law to deal with illegal currency trading and related financial activities in Zimbabwe.

This comes after ACT-SA had a meeting with the Police Acting District Commanding Officer, the Dispol, after noting that illegal currency traders were not being arrested and operated with impunity.

“The Dispol made it crystal clear that the country should not expect the Zimbabwe Republic Police to arrest any person implicated in illegal currency dealings since there is no law in place that can be used to arrest them,” Obert Chinhamo, the director of ACT-SA, said.

“This legal gap casts the country into serious problems. Mnangagwa and his team as well as law makers should urgently do something about this gap since this area is a security risk.”

Chinhamo said they had conducted a study which showed that the Reserve Bank of Zimbabwe (RBZ), commercial banks, and politically exposed persons were fingered in illegal currency dealings.

COMMENTS

WORDPRESS: 5
  • comment-avatar
    Morty Smith 3 years ago

    What rubbish. Currency dealers are a consequence of governmental malfunction not the cause. Many Zimbabweans can only access real money through these dealers.

    This kind of article is propaganda by those who would keep all the hard currency to themselves

  • comment-avatar

    But if government & zanu pf big-fish can walk into the RBZ and obtained loads of Bond Notes (for free for that matter; not their hard earned money) to go and burn /exchange on black market is that not illegal already – what new law is required? They way those people obtain the massive amounts of cash (even if they might be from their bank accounts), when all common people can hardily get cash in their hands is clearly through illegal means. So, obviously laws exist already to deal with such criminals. There is no need for any new law(s) on this matter at all. For all we know, if there is going to be such new law(s) – then, as usual, they will be designed to target the usual zanu pf cash-cows (the povo) not the really money-changers – who are well known & protected from the highest offices anyway. As usual, the laws will target poor me for changing my 1 and only a “100 Bond Note” to some few Rands @ Roadport simply becoz I need to travel to SA & certainly i cant leave Zim without a few Rands in my pocket; and no bank can give me the few Rands that I need desperately for a Taxi-fare when I get to Park Station. So, the so-called law, Like IPPA, and most other zanu pf designed laws will simply be meant to target the poor, who, in zanu pf mentality, are 2nd class citizens (slaves whose sole purpose is feeding zanu pf elite class). nxaaa!

  • comment-avatar
    Nyoni 3 years ago

    They got rid of the exchange bureaus for a reason. So that they could plunder the banks etc. Macriminals. In any country this activity is illegal. This regime must go!!! No bloody questions !!!!!!!

  • comment-avatar
    Boss Stavo 3 years ago

    Siyanai nema money changers mese murikuba everyday.

  • comment-avatar
    Bvuju 3 years ago

    The government should just get rid of bond notes period. That is the source of all money dealings.Once it is out then all these big fish will not have chance to burn money.The large sums of monies come from banks and RBZ not ava vekudealer netumari tushoma vamutoura nezvavo.Those with access to large sums of money are the very big culprits. Mr ED do away with bond notes please. Finance minister mentioned this in the first place but hatidi kumuteerera why?