BY ZBC Reporter
The United States of America Department of the Treasury under the Office of Foreign Assets Control (OFAC) has amended the Zimbabwe Sanctions Regulations.
The amendment will effectively remove the prerequisite general license that authorizes all transactions involving Agricultural Development Bank of Zimbabwe and Infrastructure Development Bank of Zimbabwe.
This will result in the liberation of these financial institutions from OFAC’s Specially Designated Nationals and Blocked Person List.
In welcoming this positive development the Minister of Finance and Economic Development commented on twitter this Friday saying “the lifting of restrictions and sanctions on Agribank and IDBZ by the US Treasury is most welcome as this will improve the bank’s ability to structure credit lines with other financiers going forward”
The lifting of restrictions and sanctions on Agribank and Infrastructure Development Bank of #Zimbabwe by @USTreasury is most welcome. This will improve the banks’ ability to structure credit lines with other financiers going forward. pic.twitter.com/k66mrwRxZE
— Prof. Mthuli Ncube (@MthuliNcube) May 22, 2020