RBZ also fighting terrorism

Ngoni Chanakira

THE Reserve Bank of Zimbabwe (RBZ) says it has now joined in the fight against terrorism being spearheaded by the United States and the United Kingdom.



rdana, Arial, Helvetica, sans-serif”>RBZ governor Gideon Gono, who has been on a two-week trip to the US, UK and South Africa, this week said the move was part of the central bank’s contribution to the global fight against terrorism financing, money laundering and the curtailment of underground black-market forces which thrive on “opaque” money transfer systems.


Gono told businessdigest in an interview recently that he held several meetings with top security chiefs from throughout the region to pave the way forward as far as money laundering was concerned.


He said this was one of the major reasons why he had taken a “no nonsense attitude” against bankers and financial institutions that were flouting RBZ regulations in broad daylight.


“We cannot have a society of wayward bankers and institutions,” he said then.


This week Gono said Zimbabwe, through the RBZ, was encouraging its citizens abroad to be transparent and accountable in all their financial dealings involving money transfers not only to the country, but also to all other parts of the world.


“Zimbabwe, together with other regional economies has taken the leading view that financial systems in its backyard will not be used as springboards for underground activities that may harm other nations,” Gono said.


“The horrors of September 11, 2001 which killed thousands of innocent people, Zimbabweans included, have seen the evolvement of a new world order in the air travel industry as well as in financial regulations governing banking systems and money transfer practices.”


He said it had been established the world over that there was a “positive correlation” between opaque or black market financial systems or money transfers and their high degree of susceptibility to use for activities that put mankind at risk, as happened in the US, in Kenya and other parts of the world where terrorist attacks were experienced.


“As part of its contribution to the global fight against terrorism financing, money laundering and the curtailment of underground black-market forces which thrive on opaque money transfer systems, Zimbabwe, through the central bank is encouraging its citizens abroad to be transparent and accountable in all their financial dealings involving money transfers not only to Zimbabwe, but to all other parts of the world,” Gono said.