RBZ lifts suspension on lending by banks

The Reserve Bank of Zimbabwe (RBZ) has with immediate effect lifted the suspension on lending by banks.

In a statement, RBZ Governor, Dr John Mangudya said the lifting of the suspension does not apply to those entities that are under investigation by the Financial Intelligence Unit (FIU) for abusing loan facilities to the detriment of the
economy.

The FIU has accordingly advised all banks of the affected entities, he said.

The suspension was announced on 7 May as part of measures to stabilise the Zimbabwean dollar and restore sanity in the market.