The Reserve Bank of Zimbabwe (RBZ) has introduced new exchange control regulations aimed at combating money laundering.
The Exchange Control (General) (Amendment) Order, 2024 (No. 21), effective immediately, sets limits on the amount of currency individuals can take out of the country.
Statutory Instrument 166 of 2024 containing the notice cited that individuals leaving Zimbabwe can only take out an amount equivalent to US$2,000 in Zimbabwean currency or US$2,000 in foreign currency, or its equivalent in other currencies.
“This order may be cited as the Exchange Control (General) (Amendment) Order, 2024 (No. 21),” the notice stated.
“The Exchange Control (General) Order, 1996, published in Statutory Instrument 110 of 1996 (hereinafter called “the principal order”) is amended in section 13 (“Exports”) in subsection (1) by the repeal of paragraphs (b) and (c) and the substitution of-
“(b) the maximum amount of Zimbabwean currency notes and coins that may be taken out of Zimbabwe on the person or in the baggage of a person leaving Zimbabwe shall be an amount equivalent to two thousand United States dollars:
“(c) the maximum amount of foreign currency that may be taken out of Zimbabwe on the person or in the baggage of a person who is leaving Zimbabwe shall be a total of two thousand United States dollars or its equivalent in any other currency or combination of currencies.”
Additionally, travelers can possess up to US$2,000 in Zimbabwean currency or US$2,000 in foreign currency, or its equivalent, in airport departure or transit lounges without authorization.
“The amount of Zimbabwean currency that a person who is about to leave Zimbabwe may possess, without authorisation in terms of section 22 of the Exchange Control Regulations, 1996, Statutory Instrument 109 of 1996, in the departure or transit lounge of an airport or other port of entry or exit, shall be an amount equivalent to two thousand United States dollars,” the notice stated.
The amendment repeals previous regulations, specifically the Exchange Control (General) (Amendment) Order, 2023 (No. 20) which had set the limit at US$10,000.
The Sentry last year reported that Zimbabwe was losing between US$500 million and US$1 billion every year to illicit cross-border transactions.
Rules are made for the poor, ivo do they have limits?
How many other controls are already in place. Are they effective. How different is this new control. Zvikoni zvikoni mimba——–
Zvese machinja zvaramba ,I think it's time to change vanhu vacho❗
Bvumai chete kuti takundikana varakashi ,muchinyanya dzungu team rangu, economy ahidi hasha kana ,kusungana kana ,kurowana kana ,itai rudo nevamwe vese vanopikisana nemi mugare pasi muumbe economy yenyika. Nyika ahisi yeZanu kwete ndeyedu tese saka step number 1 ndakupai kkkkkk
Ndo ra nostro here pakufamba mkoma
That governor is the greatest liar in the whole world he must go now!!🚮
Wasting people’s time by implementing useless measures as always. Pathetic!
So, why do you work so hard to save a currency that you don't use yourself? So much effort to save a currency that you force on others?
Accept defeat and failure chete apa , don't waste our time with useless policies
Mushayavanhu for sure. He is alone in all this. People have deserted this John hence the surname Mushayavanhu
What a shame
Zvemari zvanetsa ministry, reserve bank makundikana from Zim dollar to Bear cheque,us Dollar,bond notes, RTGS,motsiatunya gold coins . Zig..tadii tangoshandisa US dollar forever
Zig is for poor people vana chivharo vanemusvo wema US
Hatimise mudumbu nekusona kumashure
izvozvo havzishande, yapera power yapera power
Kunyepera vanhu hanzi gold backed currency 😂😂
Useless.🚮🚮🚮🚮
End result of failed illegitimate junta government
Ibotso😭😭
Ko mwadii mambotora futi tumweni twumapikicha twegoridhe sezvamakaita paye pamakari launcher? Kasi harisisipo goridhe racho kani? or you had rented that gold for a photo shoot? Munoziva zvinoita mbahva dzisina huchenjeri, nhai wedu!