Gono on foreign banks

Central Bank governor Gideon Gono today said he will take punitive measures against foreign-owned banks that resist demands to transfer majority shareholding to locals. “In my next monetary statement, I will announce punitive measures we will be taking as a central bank against those banks showing signs of reluctance to comply……We cannot be having licences held by institutions that choose to be selective when it comes to which laws of the country to comply with and which ones not to,” Gono said.

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