Bank Fines, Suspensions Weighed by Zimbabwe for Currency Gouging thezimbabwemail.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thezimbabwemail.com Daily Mail and Mail on Sunday newspapers.
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For currency gouging. 13:45
Image: Bloomberg
Zimbabwe is considering penalising domestic banks, telecommunications operators and other businesses over what the government describes as profiteering off the hard currency it makes available at auctions.
Lenders could face fines and suspensions, while companies that charge a premium for foreign exchange may be banned from participating in the auctions, central bank Governor John Mangudya said in a phone interview from the capital, Harare.
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Zimbabwe Banks Shut 17% of Branches as Virus Drives Digitization
Jan 18 2021, 7:51 PM
January 18 2021, 4:06 PM
January 18 2021, 7:51 PM
(Bloomberg) Zimbabwean banks have closed about 17% of their branches as an escalation in the number of coronavirus infections spurs lenders to shut their doors for the time being and accelerate a digitization drive.
(Bloomberg) Zimbabwean banks have closed about 17% of their branches as an escalation in the number of coronavirus infections spurs lenders to shut their doors for the time being and accelerate a digitization drive.
Of the 300 branches in the country, 10% were permanently closed last year due to the digitization push. An additional 23 branches are now temporarily under lock and key in response to a strict 30-day lockdown that started on Jan. 5, the Zimbabwe Bankersâ Allied Workers Union said.
Bloomberg
Zimbabwean bank workers have been offered a once-off 349% annual-pay increase by employers, falling far short of labor union demands and setting the stage for a potential legal challenge.
The proposal is in line with inflation figures released by the national statistics agency, the Banking Employers’ Association of Zimbabwe, which represents 17 lenders, said in a position paper seen by Bloomberg. It offered a minimum monthly salary of $26,112 Zimbabwean dollars ($318).
“The award is the full and final settlement for the year,” the association said in the position paper.
“Any other interventions during the year will be dealt with at an institutional level as has worked out very well in the past.”
Zimbabwe bank workers offered 349% pay hike thezimbabwemail.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thezimbabwemail.com Daily Mail and Mail on Sunday newspapers.