Regulatory Alerts1996-01-01
Exchange Control (General) Order, 1996
The Reserve Bank of Zimbabwe, with the Minister of Finance's approval, issued this order to regulate foreign exchange transactions and designate commercial banks as primary exchange control authorities. It establishes minimum balance requirements for foreign currency accounts, sets conditions and limits for international credit cards, and mandates that tourists, hunting safari operators, and cross-border transport providers receive payments in foreign currency or verified Zimbabwean dollar proceeds. The order further standardizes export and import procedures, prescribes specific reporting forms for monthly foreign currency returns, and outlines appeal mechanisms to ensure compliance with Zimbabwe's exchange control framework.
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