Harare bank board dissolved over irregularities

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HARARE - Zimbabwe's central bank on Thursday dissolved the board of a commercial bank and banned its members from ever serving on the board of any other bank in a drastic move aimed at curtailing indiscipline and illegal activity in the industry.

Reserve Bank of Zimbabwe (RBZ) governor Gideon Gono announced at a
press conference in Harare the removal from office of the entire board
of CFX Bank as punishment for offloading new banknotes onto the illegal
parallel market for cash before their date of release.

Post published in: Mining

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