Bond notes challenge judgment reserved

Judge President, Justice George Chiweshe has reserved judgment in an urgent chamber application filed by Harare businessman, Frederick Mutanda, challenging the planned introduction of bond notes.

Source: Bond notes challenge judgment reserved – NewsDay Zimbabwe November 24, 2016

BY CHARLES LAITON

Presentations in the matter started at around 6pm on Tuesday and ended at around 8pm after all the parties made their submissions, which Justice Chiweshe said he needed time to consider before making a determination.

In his application, Mutanda said the move by the Reserve Bank of Zimbabwe (RBZ) to introduce bond notes, as an official currency in the country, was unconstitutional and an infringement on his fundamental rights, as they would interfere with the normal operation of his business.

In his heads of argument submitted on Monday, Mutanda castigated the government for seeking dismissal of his application on a technicality, saying it was “regrettable that in a matter of national importance, RBZ governor, John Mangudya and Finance minister Patrick Chinamasa were content to raise points that were designed to prevent a determination of the matter”, which was raising important constitutional issues.

Mutanda’s submission followed an argument raised by Mangudya and Chinamasa, in their heads of argument, that he (Mutanda) was not properly before the court and as such his application ought to be dismissed.

However, Justice Chiweshe made a determination and allowed the matter to be heard on merits after which he reserved judgment.

COMMENTS

WORDPRESS: 2
  • comment-avatar
    Mukanya 6 years ago

    Judgement reserved, but BOND NOTE introduction goes ahead………….. ZANU PF rule of LAW!!! prevails………..

  • comment-avatar
    ntaba 6 years ago

    Never mind a Reserved (Zanu) Reserve Bank Judgement – let the people power hand down a Judgement! I think that it may have been started to be handed down….they see Bond Notes as Bond Toilet Paper – The Luxury you cannot afford!