Saturday, 7 October 2017

So You Want USD At 1:1 To The Bond Note, RBZ Says Go To These Places

If you remember, last week the government made it illegal to trade in foreign currency without a licence. Statutory Instrument 112A of 2017, Exchange Control (Amendment) Regulations 2017 (No 5) has led to many people being arrested for dealing in foreign currency without a licence or dealing through unauthorised persons.

The RBZ maintains that this is to ensure the orderly dealing in foreign currency.

The RBZ understands that you may still want to get USD (for whatever you use USDs for, no judgement) and since you cannot get that from your dealer at Eastgate any more they have produced a list of the licensed dealers so you don’t hang out to dry. There are some proper lads there at the RBZ, thinking about us.
So You Want USD At 1:1 To The Bond Note, RBZ Says Go To These Places
The RBZ maintains that the bond note is pegged equally against the USD and says the following is the permissible currency exchange:

1 Bond Note: 1 United States Dollar (USD)
The exchange between the USD or Bond Note with other currencies shall be at a fee spread of not more than 10% of the nominal value of either currency.

The RBZ advises that you still can apply for a licence to trade in currencies. Opportunities still exist for interested parties to apply for bureau de change licences. You can do that by applying to the Exchange Control Division for licensing. Download the application forms on the RBZ website here.

Below is the list of licensed Money Transfer Agencies (MTAs) and Bureaux de Change: So You Want USD At 1:1 To The Bond Note, RBZ Says Go To These Places.




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