By Daniel Itai.
(News of The South) – Two Zimbabwean banks, Ecobank Zimbabwe and the Commercial Bank of Zimbabwe (CBZ) have been caught in money laundering acts which involve thousands of the new Zimbabwean notes.
This comes after a picture of the new $2 Bond notes stashed in a black plastic container went viral on social media. In a statement, RBZ said it established that a CBZ bank customer had withdrawn $44 180 and that one Ecobank customer withdrew $15 000.
The Reserve Bank of Zimbabwe (RBZ) identified the two banks as the major syndicates responsible for flooding new notes on the black market following investigations that were launched to ascertain the source of new notes.
RBZ Governor John Mangudya said, “appropriate disciplinary measures shall be taken against the banks and the customers and anyone else found responsible for such malpractices which bring the RBZ and the entire banking system into disrepute. Such malpractices cannot and should not be condoned.”
The RBZ issued new notes on Tuesday, with $39 million dollars allocated to various banks.
However, a few hours after the notes were introduced, banks had run out of cash while the streets were awash with the notes.
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