Reserve Bank of Zimbabwe bans cash-in, cash-out facilities

The Reserve Bank of Zimbabwe (RBZ) has banned the cash-in and cash-out facilities for all mobile money platforms, in a move is aimed at curbing the rampant abuse of these facilities by money dealers.

The central bank has also stopped all cash-back facilities.

The directive was issued today by the central bank’s deputy director for financial markets and national payment systems Josephat Mutepfa. – Business Weekly