Regulatory Alerts1996-01-01
Exchange Control Regulations, 1996
Issued by the President of Zimbabwe under the Exchange Control Act, these regulations establish a comprehensive framework for controlling foreign currency dealings, payments, and securities. They mandate that residents and foreign entities obtain authorization from the Reserve Bank or designated authorised dealers to buy, sell, borrow, or lend foreign currency, while requiring the prompt repatriation of overseas receivables into local or designated foreign currency accounts. The regulations further govern the issuance and transfer of Zimbabwean-registered securities, regulate cross-border payments and imports, and empower authorised officers to enforce compliance through directions, information requests, and penalties.
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