Regulatory Alerts2019-01-01
Directive on Cash-in, Cash-out and Cash-back Facilities
The Reserve Bank of Zimbabwe has issued a directive requiring mobile payment system providers, merchants, and other economic agents to immediately discontinue cash-in, cash-out, and cash-back facilities. This mandate addresses widespread abuse where agents charge excessive commissions and disguise cash sales as cash-back services, thereby distorting pricing and compromising national payment system objectives. Banks and mobile providers are further instructed to enforce strict compliance within the approved regulatory framework to restore orderly market operations.
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