Categories: Top story of the day

Gono says Standard Chartered is safe

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.

(27 VIEWS)

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.

Share
Published by
Charles Rukuni

Recent Posts

ZiG loses steam, falls against US dollar for five consecutive days

The Zimbabwe Gold fell against the United States dollar for five consecutive days from Monday…

November 22, 2024

Indian think tank says Starlink is a wolf in sheep’s clothing

An Indian think tank has described Starlink, a satellite internet service provider which recently entered…

November 18, 2024

ZiG firms against US dollar for 10 days running but people still do not have confidence in the currency

Zimbabwe’s new currency, the Zimbabwe Gold (ZiG), firmed against the United States dollars for 10…

November 16, 2024

Zimbabwe among the top countries with the widest gap between the rich and poor

Zimbabwe is among the top 30 countries in the world with the widest gap between…

November 14, 2024

Can the ZiG sustain its rally against the US dollar?

Zimbabwe’s battered currency, the Zimbabwe Gold, which was under attack until the central bank devalued…

November 10, 2024

Will Mnangagwa go against the trend in the region?

Plans by the ruling Zimbabwe African National Union-Patriotic Front to push President Emmerson Mnangagwa to…

October 22, 2024