THE Reserve Bank of Zimbabwe (RBZ) says a matter involving two banks alleged to have allowed their depositors to make withdrawals above the stipulated limit is now a police case.
RBZ governor John Mangudya told ZTN that the banks were co-operating and assisting Zimbabwe Republic Police (ZRP) in investigations and tracing the money. The apex bank’s Financial Intelligence Unit last week revealed that CBZ Bank and Ecobank had let two of their depositors get $44 180 and $15 000, respectively, at a time when other depositors were being allowed a maximum of $100 per day.
On Wednesday, Ecobank said it complied with regulatory requirements before approving a $15 000 cash withdrawal by a customer which resulted in pictures of new Zimbabwe dollar notes circulating on social media raising fears that the money was being channelled to the parallel market.
In a statement, the bank said the customer had intended to use the money to pay for milk deliveries from small-scale producers.
Investigations by monetary authorities, the bank said, are now on whether the client then used the money for its indicated purposes. — ZTN.