Gono says Standard Chartered is safe


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Reserve Bank of Zimbabwe governor Gideon Gono today assured depositors with the British-owned Standard Chartered Bank that the bank will not be shut down because of its failure to comply with indigenisation laws. “All stakeholders of the bank and indeed of other banks are hereby advised not to panic or wantonly withdraw their funds from the bank as the central bank, which is the sole authority which issues and withdraws banking licences from players in the Zimbabwean financial sector, has not signalled any move in the direction intimated by nor in any other way suggesting that Standard Chartered will lose its business licence for any reason in the near future,” he said in a statement following threats from the Indigenisation board.

(10 VIEWS)

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Charles Rukuni
The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.

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