TINASHE MAKICHI/SYDNEY KAWADZA
THE Reserve Bank of Zimbabwe (RBZ) is gunning for financial institutions, bank treasury employees and commodity brokers accused of manipulating the foreign currency auction as illicit deals taint the platform.
The indiscipline, according to sources who spoke to the Zimbabwe Independent this week, has seen bank employees, dribbling systems to illegally access the greenback.
The central bank’s Financial Intelligence Unit (FIU) has been trying various tactics to address the indiscipline but lack of capacity and non-compliance by banks has made the auction platform a gold mine for rent-seekers.
The Independent is well-informed that some companies have been accessing millions of United States dollars on the auction but just basic investigations could not locate their physical addresses.
Some of the briefcase companies have accessed about US$15 million.
