The Reserve Bank of Zimbabwe said it was investigating CBZ after it allowed one customer to withdraw $44 180.
Ecobank allowed a customer to withdraw $15 000. It is also under investigation.
The normal withdrawal limit is $300 a week.
Zimbabwe is facing a serious cash crisis which the government is trying to address by injecting cash into the market.
The shortage has led to a thriving black market. Those with cash are trading electronic money at huge discounts.
Cash is also required to purchase United States dollars which have become a store of value though Zimbabwe has declared the local currency the sole trading currency.
(141 VIEWS)
This post was last modified on %s = human-readable time difference 11:33 pm
Zimbabwe is among the top 30 countries in the world with the widest gap between…
Zimbabwe’s battered currency, the Zimbabwe Gold, which was under attack until the central bank devalued…
Plans by the ruling Zimbabwe African National Union-Patriotic Front to push President Emmerson Mnangagwa to…
The Zimbabwe government’s insatiable demand for money to satisfy its own needs, which has exceeded…
Economist Eddie Cross says the Zimbabwe Gold (ZiG) will regain its value if the government…
Zimbabwe’s capital, Harare, which is a metropolitan province, is the least democratic province in the…
