RBZ lifts Metbank Limited suspension

The Reserve Bank of Zimbabwe (RBZ) has lifted the suspension of Metbank Limited with immediate effect.

In a statement, RBZ Governor Dr John Mangudya said lifting of the suspension follows the conclusion of investigations which led in the imposition of an administrative fine against Metbank.

“The RBZ wishes to advise the public that it has lifted the suspension of Metbank Limited’s authorised licence with immediate effect.”, read the statement.

This comes after the institution was in April banned from trading in foreign currency pending full investigations for breach of Exchange Control regulations relating to trading in foreign currency.

“The lifting of the suspension follows the conclusion of investigations relating to foreign exchange trading which culminated in the imposition of an administrative fine against Metbank Limited for breaching Exchange Control Regulations.”