The Reserve Bank of Zimbabwe (RBZ) has banned forty seven more illegal foreign currency dealers from operating any bank or mobile accounts while advocating for them to be banned from using cellphone lines.
The latest development brings the number of illegal foreign currency dealers that have been blacklisted by the central bank to 77.
This comes after a Reserve Bank of Zimbabwe crackdown on illegal forex transactions with the individuals now being labelled as economic saboteurs.
In a statement yesterday, RBZ governor Dr John Mangudya said the measures are meant to instil market discipline and restore sanity in the country’s financial ecosystem.
The governor expressed gratitude to the members of the public who are also coming forward with information that is helping the central bank’s financial intelligence unit to identify and take action against the culprits.
Central bank authorities revealed the names of the additional 47 illegal forex dealers have already been handed over to law enforcement agencies for possible criminal prosecution.
The authorities also stated that the crackdown on illegal forex dealers is also aimed at correcting the current widening mismatch between the official exchange rate and the black market rate which is threatening the gains of economic stability.
