08/06/2023
*Zimbabwean Banks Declare That USD Nostro Transfers Are Not Actual USD, Deactivate MasterCards
iharare.comJun 8, 2023 5:46 PM
Zimbabwean Banks Sound Alarm: USD Transfers Not Actual USD, MasterCards Deactivated!
In a surprising and unsettling development, banks in Zimbabwe have recently made a startling revelation: USD transfers from NOSTRO accounts are not equivalent to actual USD currency. The impact of this announcement has triggered widespread concern among citizens, businesses, and political figures, casting doubt on the stability of the country’s financial sector.
Citizens Question Validity of USD Balances and Banking System Integrity
The communication from banks conveyed through emails and messages to clients, has left many Zimbabweans bewildered and uncertain about the accuracy of their USD balances and the overall trustworthiness of the banking system. Opposition politician Linda Tsungirirai Masarira, who leads the LEAD party, expressed her scepticism on social media, stating, “Who is fooling who? The banking sector in Zimbabwe is a sham.”
Writing on Twitter, Masarira said,
Banks in Zimbabwe are now declaring that USD balances in NOSTRO accounts are not actual USD. Several banks have been sending out emails and messages to their clients today.
Who is fooling who? The banking sector in Zimbabwe is a sham. At this rate, in a few weeks, the formal financial system will be crippled. I foresee a liquidity crunch,
TRENDING Foundation Calls Out Jacob Zuma and Thabo Bester’s Viral Photo for Being More Fictional Than Harry Potter April 15, 2023 Mugabe’s Curse? Youngest Son Chatunga Bellarmine Joins Robert Junior In Getting Arrested April 15, 2023 Soon To Be Single: Meet The Stunning Wives Of Thabo Bester....