Reserve Bank Exchange Control Directive to Authorised Dealers RU 28/2019 of 22 February 2019

Table of Contents
1. Introduction ...........................................................................................................2
2. Establishment of an Interbank Foreign Exchange Market ....................................... 2
3. Export Receipts Retention Thresholds ....................................................................4
4. Export Receipts Retention Periods ..........................................................................5
5. Administration of Foreign Currency Accounts .........................................................6
6. Administration of export proceeds .........................................................................7
7. Discontinuation of Export & Diaspora Incentive Schemes ....................................... 7
8. Registration of foreign liabilities and legacy debts ..................................................8
9. Registration of Bureaux de Change..........................................................................9
10. Administration of foreign payments for imports ...................................................9
11. Submission of Exchange Control Returns .............................................................10
12. Enhanced compliance monitoring ........................................................................11

1. Introduction
1.1 This Exchange Control Directive to Authorised Dealers is issued in terms of Section 35 (1) of the Exchange Control Regulations, Statutory Instrument 109 of 1996 to provide Authorised Dealers with an administrative framework for operationalizing the foreign exchange measures contained in the Monetary Policy Statement announced by the Governor of the Reserve Bank of Zimbabwe on 20 February 2019.
1.2 Authorised Dealers are therefore, required to acquaint themselves with the provisions of this Exchange Control Directive to ensure effective implementation and administration of the foreign exchange measures announced in the Monetary Policy Statement.

 

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